SCRAM is a sweeping investigation of the sources of risk, the many ways to mitigate risk, and a number of ways that managers can incorporate risk management into their ongoing efforts. Dr. Fletcher first introduces concepts of uncertainty and risk, followed by a discussion of Monte Carlo Simulation as a way to understand risk in the context of historic information. This is followed by a discussion of a number of caveats associated with the use of historic data. The core of the book is a look at a large number of ...
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SCRAM is a sweeping investigation of the sources of risk, the many ways to mitigate risk, and a number of ways that managers can incorporate risk management into their ongoing efforts. Dr. Fletcher first introduces concepts of uncertainty and risk, followed by a discussion of Monte Carlo Simulation as a way to understand risk in the context of historic information. This is followed by a discussion of a number of caveats associated with the use of historic data. The core of the book is a look at a large number of catastrophic failures and the lessons to be learned from them. Out of this investigation comes a long list of sources of risk, followed by a wide range of risk mitigation strategies. Insight is gained into the development of these strategies in light of the cascading and layering of both risks and potential risk mitigation strategies. Finally, ways of representing risks quantitatively are followed by a discussion of the process of developing a risk management plan.
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