This article from the Wharton University of Pennsylvania entitled Confidence Games: Why People Don’t Trust Machines to Be Right highlights the issue of placing trust in our own judgement even though the facts tell us otherwise. In the article, Wharton professor Cade Massey and doctoral student Berkeley Dietvorst explain that once we use a predictive
In a nutshell, it doesn’t. All the same questions need to be asked: What is motivating me as I consider this decision? How clear am I on the options I have? Am I as ready, willing and able to implement the “best” option as I need to be? If the answer is no, start
Yesterday I had the great pleasure of listening to a wonderfully engaging presentation by Alisa Camplin who won the gold medal in aerial skiing at the 2002 Salt Lake City Winter Olympics. Her story of hard work, heartbreak and of course victory was compelling enough, however, when she said that she used Risk Management to
Last month I mentioned a recent webinar I ran on Risk Appetite in which I pointed out that an articulated risk appetite statement is only the beginning. You need managers to operationalise it so that staff can live it. One part of operationalising risk appetite is through communication to staff. Another part is through implementing a
In my Trusted Advisor program I discuss the concept of wisdom with participants. We draw out what it means and what it looks like. I always ensure that simplicity gets onto the whiteboard. At the end of the day, we all know that when we hear about something new that is very, very simple we