risk acceptance

Does the Southwest Meltdown Prove ERM Haters Correct?

Most of the time, flight delays and cancellations are just an inconvenience for a small number of people. That cannot be said about the recent “meltdown” of Southwest Airlines’ operations over the Christmas 2022 holiday. While the intense winter weather gripping the U.S. affected all airlines, the impact to Southwest was especially severe with close…
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Determining the Best Approach for Low Probability Risks

To start today’s article, I would like to share a family story from July 2021… My husband Nathan was taking our son Jackson to his first baseball game. The two of them took a “guys” trip to see a minor-league team in my former hometown about 3 hours away. On their way, they stopped at…
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Another Baby Step in the Qualitative to Quantitative Risk Assessment Journey

To achieve success either as individuals or collectively as a group, we must resist the temptation to be stagnant and always seek improvement. A previous article where I discuss how to develop a growth mindset is one example of putting this idea into action. Kaizen, a Japanese term that literally translates to “continuous improvement,” is…
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risk acceptance

One Tool for Informed and Responsible Risk Acceptance

As part of your daily life, you drive a car, walk down the street, ride in elevators, go swimming, have children. Correct? You live your life. Well, you are accepting risk in all of those things. In fact, having a home or renting an apartment also entails risk…fire, wind damage, snow or ice, tornado, earthquake,…
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