Estimating Risk

'A comprehensive and critical overview of the risk management toolkit from both a theoretical and practical perspective. Risk professionals will find it an extremely useful resource. More importantly, it should be required reading for all managers who think they understand how to use the results of a risk assessment to inform business decisions'. Mike Robertson, M.D. Risk Solutions, UK 'Those used to more traditional corporate risk managers will find Garlick's approach refreshing and informative, focusing on how the techniques can be used to help managers manage better rather than on compliance or loss prevention (although of course this remains an important part of any approach to risk). This book provides a very readable insight into the author's approach to risk and will inform both managers and practitioners alike. He has structured his book in a way that allows the reader to understand the subject in simple terms whilst separately providing the mathematical insight (and detail) required for a comprehensive analysis. The book will help managers avoid the many pitfalls in this complex subject and allow them to interrogate the models presented by practitioners and to challenge bad practice when it presents itself. He quite rightly challenges some of the more mechanistic approaches to risk management. Readers of this book will quickly come to understand some of the myths and pitfalls surrounding a reliance on some of the more expensive corporate risk software for estimating risk and I suspect become significantly more demanding of their own risk processes. To use the author's own words - "You have been warned".' Alistair C. Kennedy, Director, Balfour Beatty Management"