Article
Book Review on The Failure of Risk Management: Why It’s Broken and How to Fix It, by Douglas W. Hubbard (2009).
Risk Analysis
(2010)
Abstract
The title The Failure of Risk Management seemsto imply that risk management is useless. However,the subtitle Why It’s Broken and How to Fix It provides a better description of Douglas Hubbard’s contribution to the field of risk analysis. Hubbard criticizes several risk management methods currently used by a wide variety of organizations but also presents a convincing argument for why probabilistic risk analysis using Monte Carlo simulation is the best approach.
Disciplines
Publication Date
2010
Publisher Statement
This is the peer reviewed version of the folowing article: MacKenzie, C.A. 2010. “Book Review on Douglas Hubbard, Failure of Risk Management: Why It’s Broken and How to Fix It.” Risk Analysis 30 (3): 524-525. doi: 10.1111/j.1539-6924.2010.01381.x. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for self-archiving.
Citation Information
Cameron A. MacKenzie. "Book Review on The Failure of Risk Management: Why It’s Broken and How to Fix It, by Douglas W. Hubbard (2009)." Risk Analysis Vol. 30 Iss. 3 (2010) Available at: http://works.bepress.com/cameron_mackenzie/9/