What Is the Future of Risk Management?
The great Yankees catcher Yogi Berra famously said, “It’s tough to make predictions, especially about the future.” In this chapter, I am not so much going to make predictions, but present my own view of where we are trending and put forward some hopes that I have about the future of risk management.
As a field of study and as a management discipline, risk management is paradoxically one of the oldest disciplines and simultaneously still in its infancy. It is one of the oldest management disciplines, in that risk-taking has been acknowledged as core to organizational success since the earliest cavemen determined how best to gang hunt a woolly mammoth. It is also still in its infancy as the data-driven ...
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