Understanding and Managing Risk AttitudeDespite many years of development, risk management remains problematic for the majority of organizations. One common challenge is the human dimension, in other words, the way people perceive risk and risk management. Risk management processes and techniques are operated by people, each of whom is a complex individual, influenced by many different factors. And the problem is compounded by the fact that most risk management involves people working in groups. This introduces further layers of complexity through relationships and group dynamics. David Hillson's and Ruth Murray-Webster's Understanding and Managing Risk Attitude will help you understand the human aspects of risk management and to manage proactively the influence of human behaviour on the risk process. The authors introduce a range of models, perspectives and examples to define and detail the range of possible risk attitudes; looking both at individuals and groups. Using leading-edge thinking on self-awareness and emotional literacy, they develop a powerful approach to address the most common shortfall in current risk management: the failure to manage the human aspects of the process. All this is presented in a practical and applied framework, rather than as a theoretical or academic treatise, based on the authors' shared experiences and expertise, rather than empirical research. Anyone involved in implementing risk management will benefit from this book, including risk practitioners, senior managers and directors responsible for corporate governance, project managers and their teams. It is also essential reading for HR professionals and others interested in organizational or behavioural psychology. This second edition is updated to strengthen the understanding of individual risk attitudes and reinforce what individuals can do to manage those risk attitudes that are leading them away from their objectives. For people who want to embrace this subject, the book highlights ways forward that are proven and practical. |
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Understanding and Managing Risk Attitude Dr David Hillson,Ms Ruth Murray-Webster Limited preview - 2012 |
Common terms and phrases
ability achievement of objectives adopted anchoring and adjustment approach to risk appropriately express emotions assessment availability heuristic behaviour brain cautious shift Chapter chosen response confirmation trap context cultural conformity decision-making decisions defined described diagnostic effective risk management emotional intelligence emotional literacy emotionally literate feelings Figure group risk attitude groupthink Hofstede human factors identified impact implementation important individual or group individual risk attitudes individuals and groups influence ISBN Johari Window judgement lead limbic system management of risk managing risk attitudes national cultural negative neo-cortex opportunities organization organizational outcome perceived perception personal power position possible power distance preferred risk attitude proactive Project Management Project Management Institute psychology recognize relevant representativeness heuristic Response to uncertainty result risk management effectiveness risk management process risk process risk-averse risk-seeking risky shift Scale self-awareness strategies subconscious threats Transactional Analysis Triune Brain uncertain situation uncertainty avoidance understanding and managing