The Tyranny of Uncertainty
A New Framework to Predict, Remediate and Monitor Risk
Current risk management practices are unable to universally reveal major risks in time for stakeholders to proactively avoid the risk. We must adopt a scientific approach to risk management if we hope to escape the risk of chronic crisis which we now face.
The Tyranny of Uncertainty explains how dynamic complexity creates hidden risks and why traditional risk management methods can no longer prepare stakeholders to act at the right time to avoid or contain risks such as the Fukushima Daiichi Nuclear Disaster, the 2007-2008 Financial Crisis, or Obamacare’s Website Launch Failure. By applying scientific discoveries and mathematically advanced methods of predictive analytics, the book demonstrates how business and information technology decision makers have used the presented methods to reveal previously unknown risks and take action to optimally manage risk.
Further, the book explains the widening impact of dynamic complexity on business, government, healthcare, environmental and economic systems and forewarns readers that we will be entering an era chronic crisis if the appropriate steps are not taken to modernize risk management practices. The presented risk management problems and solutions are based upon Dr. Abu el Ata’s and Mr. Schmandt’s decades of practical experience, scientific research, and positive results achieved during early stage adoption of the presented innovations by hundreds of global organizations.