HOW ARE 'RISK MANAGEMENT' AND 'RISK SCIENCES' DIFFERENT OR SIMILAR? Risk management and risk sciences are related fields, but they differ in their focus and approach. Risk management is a practical process that involves identifying, assessing, and mitigating risks in order to achieve specific objectives. The focus of risk management is on the practical application of risk assessment and mitigation strategies in various industries and contexts. Risk management is often applied within organizations to identify and manage risks associated with business operations, financial investments, and project management, among other areas. Risk sciences, on the other hand, is an academic field that involves the study of risks and risk management from a scientific perspective. The focus of risk sciences is on developing and applying scientific methods and models to analyze risks and evaluate the effectiveness of risk management strategies. Risk sciences draws on a wide range of disciplines, including mathematics, statistics, epidemiology, engineering, and environmental science, among others. Member's and Subscribers get more: https://lnkd.in/gnjBAn3z #risk #risks #enterpriserisk #enterprisesecurityriskmanagement #intelligence #threatlintelligence #riskmanagement #riskanalysis #riskassessment #riskmanagementframework #operationalriskmanagement #projectriskmanagement #projectrisk #operationalresilience #resilience #operationalrisk #riskintelligence #governance #security #securityriskmanagement #securitymanagement #securityrisks #enterprisesecurity #cybersecurity #physicalsecurity #informationsecurity #digitalsecurity #securityoperations #enterprisesecurityriskmanagement #securityassessment #intelligence #threatlintelligence #risk #riskmanagement #crisis #crisismanagement #complexity #chaos #crisisleadership #crisisplan #crisismanagementplan #stress #governance #decisionmaking #riskmanagement #riskinformed #securitymanagement #securityriskmanagement #resilience #humanfactors #emergency #disaster #emergencyresponse #travelsecurity #travelsafety #travel #businesstravel #tourism #travelrisks #travelriskmanagement
Group Manager Risk (incl. Resilience, Insurance & Internal Audit) | PhD Candidate, Researcher and Scholar
WHAT IS RISK MANAGEMENT? Risk management is the process of identifying, assessing, and prioritizing risks or potential risks to an organization or individual and taking steps to minimize or mitigate those risks. It involves analyzing both internal and external factors that may affect the achievement of goals and objectives, and developing plans to manage and reduce the potential impact of those risks. Seems simple enough? Well, we unpack a few more topics and issues in this summative analysis. In this paper, I discuss 'risk management' with ChatGPT Plus. Areas we cover include: Risk assessments, risk sciences, risk cognition, risk management frameworks, qualitative risk analysis, quantitative risk analysis, Monte Carlo simulations, Makarov Chains, 3 Lines Model, Risk Management Failures, Measurement, Qualifications, Job Descriptions, Risk Matrices, Risk Homeostasis, halo effect, gambler's fallacy, amplification of risk, kurtosis, overfitting, base rate fallacy, risk biases, heuristics, economics, heteroscedasticity, reductionism, determinism, Heisenberg's uncertainty principle, risk-based vs. risk-informed, and a few other treats, tips and themes along the way. Tony Ridley, MSc CSyP MSyI Risk Management Security Management Crisis Management Risk, Security, Safety, Resilience & Management Sciences (Tony Ridley, MSc CSyP MSyI M.ISRM) Member's and Subscribers get more: https://lnkd.in/gG28UiHu Also available on ResearchGate https://lnkd.in/gggC7DHH #risk #risks #enterpriserisk #enterprisesecurityriskmanagement #intelligence #threatlintelligence #riskmanagement #riskanalysis #riskassessment #riskmanagementframework #operationalriskmanagement #projectriskmanagement #projectrisk #operationalresilience #resilience #operationalrisk #riskintelligence #governance #security #securityriskmanagement #securitymanagement #securityrisks #enterprisesecurity #cybersecurity #physicalsecurity #informationsecurity #digitalsecurity #securityoperations #enterprisesecurityriskmanagement #securityassessment #intelligence #threatlintelligence #risk #riskmanagement #crisis #crisismanagement #complexity #chaos #crisisleadership #crisisplan #crisismanagementplan #stress #governance #decisionmaking #riskmanagement #riskinformed #securitymanagement #securityriskmanagement #resilience #humanfactors #emergency #disaster #emergencyresponse #travelsecurity #travelsafety #travel #businesstravel #tourism #travelrisks #travelriskmanagement
Is not the essence of Risk Management the root unity and practice of Quality Assurance?
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CISSP,ISMS ISO 27001:2013 LA AUDITOR,AWS CP,AZURE,DISA
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