This episode is all about risk awareness. And in many ways, it’s an unusual episode in that we get into risk management as a profession. I tend to stay away from this as a topic because I don’t believe risk should have its own jargon and rituals that only certain hallowed people can use. We all take risks, and as you will hear, the science of risk and decision-making has been around for a while.
My guest, however, isn’t your ordinary risk professional. He’s Alex Sidorenko and he has been on the show before. For the past several years, Alex has been disrupting the way in which organisations think about and practice risk management. Alex runs something called Risk Academy which offers counterintuitive and controversial views on risk management.
Next week (Oct 14-18 2019), Alex is putting together Risk Awareness Week – an online conference which offers some amazing speakers and content on risk as a management discipline – why it’s broken, how to fix it, and much more. Even if – and especially if – you are not a risk professional, you will get tons of value from my conversation with Alex and from Risk Awareness Week.
Alex is fun, and we cover a range of topics including:
- Why risk management is all about probability theory, neuroscience and decision science – don’t let the marketing fool you;
- Why so much corporate risk management is bullsh*t;
- How to de-bias yourself;
- Some great tips on decision-making;
- How Alex and some of his colleagues beat the lottery;
- Much more
Show notes:
Alex’s interview with Grant Purdy
Alex’s favourite risk management books
The Flaw of Averages by Sam Savage and Jeff Danziger
The Failure of Risk Management – Why It’s Broken and How to Fix It by Douglass Hubbard
Alex and colleagues' lottery experiment
My first episode with Alex on All Things Risk
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Our free course module “How to Set Up Any Decision for Success” from our upcoming course How to Make Decisions With Calm and Confidence