Welcome back

Last week, we looked at how we make decisions in a general sense, and the data that we can draw on to do this. This week we will focus on risk management, as well as a key tool that we can use to improve our decision-making.

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While risk is often defined too broadly, as you saw last week, assessing risks is a key part of the analysis that we need to undertake – consciously or otherwise – to arrive at decisions. There are a number of tools we can draw on to ensure that we understand risks fully and appropriately, and are able to respond accordingly. These feed into formal processes that allow us to make decisions analytically, based on an assessment of the options available to us.

These are themes that we will introduce this week, and we hope that you will stay with us as we develop them throughout the module.

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This article is from the free online course:

Decision-making and Risk: An Introduction

Coventry University