Guest Post by Patrick Ow (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

In Part 1 of this series, we looked at the two relevant dimensions for decision-making under certainty, risk, and uncertainty that form the certainty-uncertainty spectrum are:

1. Degree of certainty – It ranges from close to certainty to far from certainty.
2. Level of predictability and control – It moves from close to predictability and control to far from predictability and control.

Based on these two dimensions, in this Part2, we will be looking at the three conditions along the certainty-uncertainty spectrum that you will face when making decisions under certainty, risk, and uncertainty.

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Guest Post by John Ayers (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

Two schedule tools are widely used for the Integrated Master Schedule (IMS) around the world to manage projects. The first one is Microsoft Project (MS Project). The second one is Primavera P6.  They are both very good. Primavera P6 is an Oracle product originally designed for the construction industry. MS Project is simpler and easier to learn based on my experience. It also costs less than Primavera P6. DOD uses MS Project and typically requires it for use on government contracts. Other industries use one or the other depending on the size and complexity of the project.

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Guest Post by Patrick Ow (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

Uncertainty is all around us, never more so than today. Whether it concerns a global pandemic, the economy, or your finances, health, and relationships, much of what lies ahead in life remains uncertain.

Nonetheless, life continues. You still must earn a living, take care of the family, house, and car, and walk the dog. All under these new clouds of stress and uncertainty.

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Guest Post by James Kline (first posted on CERM ® RISK INSIGHTS – reposted here with permission)

Enterprise Risk Management (ERM) is becoming an important topic and activity worldwide. This is in part because of COVID 19. COVID 19 focused the public’s attention on health risks. As the world comes out of the pandemic crisis, the focus, particularly in government, will be on other risks. Already, in the United States, cities which defunded the police, are reallocating money back due to rising crime. However, because of the political atmosphere and retirement of senior officers, cities are having trouble recruiting enough people to fill the vacated ranks. Adding to this problem are the consequences of riots and work from home. In many urban areas, the result has been a hollowing out of the urban core.

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