Risk management is usually presented as a process supported by tools and techniques. It is however really about people making decisions when they are uncertain. These decisions are influenced by individual and group risk attitudes. Organisations need to be aware of the drivers of risk attitude and be able to manage these proactively in order to ensure that the risk process is fully effective.
- Why people matter in managing risk
- Defining risk attitude – the risk attitude spectrum
- Basic risk attitudes and why they matter – risk-averse, risk-seeking, risk-tolerant, risk-neutral
- The importance of perception
- Influences on perception – the “triple strand”
- Using emotional literacy to manage risk attitude
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