The Failure of Risk Management: Why It's Broken and How to Fix It
John Wiley & Sons, coming April 2009
This new book explains that the ultimate risk in virtually any environment is that risk management itself doesn't work. Methods to assess risk have known flaws that consistently fail to measure risk in any way that matches reality. The most popular methods are those with the least science behind them. The Failure of Risk Management not only points out these problems but also lays out an approach to fix them. No risk analyst, risk manager, Chief Risk Officer, investor, policy maker, or concerned citizen should be without this book.
"Doug Hubbard's book should be required reading for managers and practitioners responsible for mitigating risk. If corporations and government are to regain the public trust, effective and broad-based risk management must be as natural as breathing." Ron Miller, FEMA CIO 200-2002, White House Homeland Security Transition Planning Office senior advisor, chairman TeamRonMiller.com.
"Doug Hubbard really knows his stuff. He is not just an author who has learned enough about a current popular topic to write a book, but instead is a talented consultant in this area, who has learned how to write, and write well. He displays a deep real world understanding that ranges from mathematics to everyday human behavior, a trait that is all too rare in this age of specialization." Prof. Sam Savage, Fellow, Judge Business School, Cambridge University; Consulting Professor, Stanford University School of Engineering