Consider the following comments from R. B. Duffey and J. W. Saull, Managing Risk (Wiley, Hoboken, NJ,
Question:
Consider the following comments from R. B. Duffey and J. W. Saull, Managing Risk (Wiley, Hoboken, NJ, 2008), p. 1:
We live in a world full of risks, outcomes and opportunities. As we try to avoid the things that might kill or harm us, we follow the survival of the fittest. If we take a risk, a chance, we hope the outcome will be favourable, whatever it may be. We might trust luck, but there is always a chance, a probability that something nasty, something hurtful might happen, and we might be harmed physically, mentally or financially. Not just by our own actions, but harm from an unexpected failure of any of the technological systems on which we rely. Simply as the result of human decisions, we are just plain uncertain as to how things that happen will play out if they will even occur.
In the early years of trying to understand risk management, we focused heavily on understanding the risks that can occur from our own actions. Does it appear from the above comments that we are now trying to manage risks that occur from the action of others?
Step by Step Answer:
Project Management A Systems Approach to Planning Scheduling and Controlling
ISBN: 978-1118022276
11th edition
Authors: Harold Kerzner