Thursday, 6 June 2013

Risk

The book I read to research this post was Risk A Very Short Introduction by John Kadvany et al which is a very good book which I bought from kindle. This book is an introduction to risk management. Apparently if you make a single car journey in the USA you have a 1 in 10 million chance of it ending in a fatal car accident but also you have a 1 in 200 chance of dying in a car crash at some point in your lifetime. The way they work risk of something out is they check the statistics and take the total number of incidents and then take the population as a whole and divide the 2 together. This will then give them something like 1 in 100. The types of risk you decide you must take measures to avoid is called manageable risk although many types of risk like the chance of the earth being struck by a comet you will decide are so remote there is no point in preparing for. This book is only about 150 pages and is part of a series on complex topics, written by experts in their field. I think there is about 300 books in the series although that may include some that haven't been published yet. 

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