Risk Management
Failure mode and effects analysis
The P-Diagram, a supporting tool, or the complete confusion?
IDW PS 340: Audit of the early risk detection…
From a quantitative change of course to a view of opportunities
Artificial intelligence
How to Train an AI to Predict Risk
When it comes to predictions, artificial intelligence techniques are much more powerful than simple statistical approaches such as extrapolating simple trends. However, these methods initially only…
Probabilistic models give us knowledge
The Demystification of Quantification
Both the past and the present are full of examples of risk blindness, risk ignorance and downright stupidity. "The Reactor Safety Study" (WASH-1400) from the year 1975 delivers a prime example of the…
Natural disasters and man-made catastrophes
Global insured losses from disaster events in 2017 were the highest ever
"Nightmare-Assessment" and "Reverse Thinking" in practice
What scenarios cause you sleepless nights?
Since time immemorial we have been dealing with uncertainty and risks. Power, money and fame were driving forces even in ancient times, led to wars and divided peoples. The whims of nature struck…