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Organized Uncertainty
Book

Organized Uncertainty

Designing a World of Risk Management

Oxford UP, 2007 plus...


Editorial Rating

6

Qualities

  • Comprehensive
  • Analytical
  • Well Structured

Recommendation

Michael Power takes an academic look at how risk analysis has become risk management since the 1990s and how the present demand for greater business accountability is turning risk management into risk governance. The ideas in the book are solid, and not as opaque as Power’s academic argot (“managerialization,” “scientificity,” “scientization”) may make them seem. Constant explanations of detailed studies and risk models become somewhat complex for the general reader, but getAbstract recommends this informed and informative analysis to risk management professionals and professors who will appreciate Power’s depth of knowledge.

Take-Aways

  • Risk is not necessarily a negative condition that you must minimize.
  • Risk analysis techniques help businesses understand and quantify risks.
  • However, simply understanding risks will not protect your business from their potentially costly consequences.

About the Author

Michael Power is a professor at the ESRC Centre for Analysis of Risk and Regulation and the London School of Economics. A fellow of the Institute of Chartered Accountants in England and Wales, he writes frequently about accounting and risk management.