Mathematical Quantification of Operational & Strategic risks: Strategic Survey and Objective Result Aggregation

Why quantifying qualitative risks is a very important element of enterprise risk management.

Quantifying qualitative risks can be hard

• Have you ever had quantification of strategic and operational risks that were so different year over year that it was embarrassing to reveal the results?

• Have you ever experienced situations where one person overrides everyone else’s honest assessment of the size of the risk?

• Have you experienced executives/subject matter experts losing enthusiasm in risk interview meetings or declining requests for interviews?

  • Date:Tuesday, March 10
  • Time:9:30 AM - 10:20 AM
  • Location:Oasis I
  • Session Type:Concurrent Session
  • Session Code:CS10
  • Audience Level:2
  • Learning Objective 1::Analyze sample survey questions and discuss why some questions are flawed in overcoming interviewee’s cognitive bias. We propose alternative methods to make it more objective.
  • Learning Objective 2::Identify commonly used modeling techniques of survey results and discuss how to improve them.
  • Learning Objective 3::Identify common pitfalls of the aggregation of survey results of various key risks at the enterprise level.
  • Learning Objective 4::Identify some elegant quantification and prioritizing strategies to deliver actionable recommendations that will help decision makers.
  • Moderator:Ujae Kang
Speakers
Ujae Kang
UAK Diversified
Carol Williams
Strategic Decision Solutions
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