Rethinking Risk Assessment

The MacArthur Study of Mental Disorder and Violence

Rethinking Risk Assessment

Author: John Monahan,Henry J. Steadman,Eric Silver,Paul S. Appelbaum,Pamela Clark Robbins,Edward P. Mulvey,Loren H. Roth,Thomas Grisso,Steven Banks

Publisher: Oxford University Press

ISBN: 9780198031741

Page: 208

View: 1761

The presumed link between mental disorder and violence has been the driving force behind mental health law and policy for centuries. Legislatures, courts, and the public have come to expect that mental health professionals will protect them from violent acts by persons with mental disorders. Yet for three decades research has shown that clinicians' unaided assessments of "dangerousness" are barely better than chance. Rethinking Risk Assessment: The MacArthur Study of Mental Disorder and Violence tells the story of a pioneering investigation that challenges preconceptions about the frequency and nature of violence among persons with mental disorders, and suggests an innovative approach to predicting its occurrence. The authors of this massive project -- the largest ever undertaken on the topic -- demonstrate how clinicians can use a "decision tree" to identify groups of patients at very low and very high risk for violence. This dramatic new finding, and its implications for the every day clinical practice of risk assessment and risk management, is thoroughly described in this remarkable and long-anticipated volume. Taken to heart, its message will change the way clinicians, judges, and others who must deal with persons who are mentally ill and may be violent will do their work.
Categories: Medical

Rethinking Risk Management

Critically Examining Old Ideas and New Concepts

Rethinking Risk Management

Author: Rick Nason

Publisher: Business Expert Press

ISBN: 1631575422

Page: 134

View: 4069

Risk management has become a key factor of successful organizations. Despite risk management's importance, outdated and inappropriate ideas about how to manage risk dominate. This book challenges existing paradigms of risk management and provides readers with new concepts and tools for the current dynamic risk management environment. The framework for the book is a series of questions that allows for an interesting and thought-provoking look at current ideas and forward-looking concepts. This book, intended for senior managers, directors, risk managers, students of risk management, and all others who need to be concerned about risk management and strategy, provides a solid base for not only understanding current best practice in risk management, but also the conceptual tools for exploiting emerging risk management technologies, metrics, regulations, and ideas. The central thesis is that risk management is a value-adding activity that all types of organizations, public, private as well as not-for-profit, can use for competitive advantage and maximum effectiveness.
Categories: Business & Economics

Rethinking Risk in National Security

Lessons of the Financial Crisis for Risk Management

Rethinking Risk in National Security

Author: Michael J. Mazarr

Publisher: Springer

ISBN: 1349918431

Page: 246

View: 7391

This book examines the role of risk management in the recent financial crisis and applies lessons from there to the national security realm. It rethinks the way risk contributes to strategy, with insights relevant to practitioners and scholars in national security as well as business. Over the past few years, the concept of risk has become one of the most commonly discussed issues in national security planning. And yet the experiences of the 2007-2008 financial crisis demonstrated critical limitations in institutional efforts to control risk. The most elaborate and complex risk procedures could not cure skewed incentives, cognitive biases, groupthink, and a dozen other human factors that led companies to take excessive risk. By embracing risk management, the national security enterprise may be turning to a discipline just as it has been discredited.
Categories: Political Science

Rethinking Risk and the Precautionary Principle

Rethinking Risk and the Precautionary Principle

Author: Julian Morris

Publisher: Butterworth-Heinemann

ISBN: 0750646837

Page: 294

View: 5517

Rethinking Risk and the Precautionary Principle challenges the claim that the precautionary principle is an appropriate guide to public policy decision-making in the face of uncertainty. The precautionary principle is frequently invoked as a justification for regulating human activities. From bans on the use of growth hormones in cattle to restrictions on children's playground activities, precautionary thinking seems to be taking over our lives. As the contributors to this book show, such an approach is of dubious utility and may even be counterproductive. This is a timely and important contribution to the debate on how to manage risk in the modern world. The editor, Julian Morris, is Director of the Environment and Technology Programme at the Institute of Economic Affairs in London. He has written widely on issues relating to environmental protection and technological development. Up to date discussion of current issues and scientific controversies Challenges the claim that the 'precautionary principle' is an appropriate guide to public policy decisions
Categories: Business & Economics

Corporate Risk Management

Corporate Risk Management

Author: Donald H. Chew

Publisher: Columbia University Press

ISBN: 0231513003

Page: 480

View: 3250

More than thirty leading scholars and finance practitioners discuss the theory and practice of using enterprise-risk management (ERM) to increase corporate values. ERM is the corporate-wide effort to manage the right-hand side of the balance sheet a firm's total liability structure-in ways that enable management to make the most of the firm's assets. While typically working to stabilize cash flows, the primary aim of a well-designed risk management program is not to smooth corporate earnings, but to limit the possibility that surprise outcomes can threaten a company's ability to fund its major investments and carry out its strategic plan. Contributors summarize the development and use of risk management products and their practical applications. Case studies involve Merck, British Petroleum, the American airline industry, and United Grain Growers, and the conclusion addresses a variety of topics that include the pricing and use of certain derivative securities, hybrid debt, and catastrophe bonds. Contributors: Tom Aabo (Aarhus School of Business); Albéric Braas and Charles N. Bralver (Oliver, Wyman & Company); Keith C. Brown (University of Texas at Austin); David A. Carter (Oklahoma State University); Christopher L. Culp (University of Chicago); Neil A. Doherty (University of Pennsylvania); John R. S. Fraser (Hyrdo One, Inc.); Kenneth R. French (University of Chicago); Gerald D. Gay (Georgia State University); Jeremy Gold (Jeremy Gold Pensions); Scott E. Harrington (University of South Carolina); J. B. Heaton (Bartlit Beck Herman Palenchar & Scott LLP); Joel Houston (University of Florida); Nick Hudson (Stern Stewart & Co.); Christopher James (University of Florida); A. John Kearney and Judy C. Lewent (Merck & Co., Inc.); Robert C. Merton and Lisa K. Meulbroek (Harvard Business School); Merton H. Miller (University of Chicago); Jouahn Nam (Pace University); Andrea M. P. Neves (CP Risk Management LLC); Brian W. Nocco (Nationwide Insurance); André F. Perold (Harvard Business School); S. Waite Rawls III (Continental Bank); Kenneth J. Risko (Willis Risk Solutions); Angelika Schöchlin (University of St. Gallen); Betty J. Simkins (Oklahoma State University); Donald J. Smith (Boston University); Clifford W. Smith Jr. (University of Rochester); Charles W. Smithson (Continental Bank); René M. Stulz (Ohio State University); D. S All the articles that comprise this book were first published in the Journal of Applied Corporate Finance. Morgan Stanley's ownership of the journal is a reflection of its commitment to identifying outstanding academic research and promoting its application in the practicing corporate and investment communities.
Categories: Business & Economics

Clinical Risk Management

An introductory text for mental health professionals

Clinical Risk Management

Author: Tom Flewett

Publisher: Elsevier Health Sciences

ISBN: 0729579344

Page: 238

View: 1921

An essential primer for mental health professionals, written with an emphasis on patient care Straightforward and accessible, Clinical Risk Management: An introductory text for mental health clinicians is an essential resource for anyone working in the mental health field in Australia. The book aims to alleviate anxiety in mental health professionals, including psychiatrists, psychologists, nurses, counsellors and mental health care workers, and is written with an emphasis on patient care. Clinical Risk Management spans an extensive range of topics integral to the work of mental health professionals. These topics include an introduction to the concept of risk, an analysis of where risk sits within a mental health setting and an in-depth exploration of the most common mental health risks, including suicide, violence and self-harm. This important medical textbook highlights some more complicated components of clinical risk management; namely psychodynamic principles and boundary issues, managing adverse outcomes and using standardised tools. Existing literature on clinical risk management in the mental health arena is largely limited to journal articles, making Clinical Risk Management: An introductory text for mental health clinicians a necessary and unique health resource. • addresses problems prevalent in psychiatry • looks at the increase in substance abuse in Australian society and the consequences for mental health professionals • offers easy-to-read boxed tips, examples and learning points • is logically structured in four parts, with an overview, clinical skills, types of risk and advanced skills
Categories: Medical

Decision Making in Systems Engineering and Management

Decision Making in Systems Engineering and Management

Author: Gregory S. Parnell,Patrick J. Driscoll,Dale L. Henderson

Publisher: John Wiley & Sons

ISBN: 0470934719

Page: 544

View: 2132

Decision Making in Systems Engineering and Management is a comprehensive textbook that provides a logical process and analytical techniques for fact-based decision making for the most challenging systems problems. Grounded in systems thinking and based on sound systems engineering principles, the systems decisions process (SDP) leverages multiple objective decision analysis, multiple attribute value theory, and value-focused thinking to define the problem, measure stakeholder value, design creative solutions, explore the decision trade off space in the presence of uncertainty, and structure successful solution implementation. In addition to classical systems engineering problems, this approach has been successfully applied to a wide range of challenges including personnel recruiting, retention, and management; strategic policy analysis; facilities design and management; resource allocation; information assurance; security systems design; and other settings whose structure can be conceptualized as a system.
Categories: Technology & Engineering

Rethinking Risk Measurement and Reporting: Uncertainty, Bayesian analysis and expert judgement

Rethinking Risk Measurement and Reporting: Uncertainty, Bayesian analysis and expert judgement

Author: Klaus Böcker

Publisher: N.A

ISBN: 9781906348403

Page: 527

View: 8981

Provides a thorough and rigorous introduction to Bayesian analysis and expert judgment, before moving to more technical content focusing on including stress testing and risk aggregation. A final section is devoted to fundamentals, issues of risk management, such as the nature of risk and cognitive aspects of uncertainty.
Categories: Bayesian statistical decision theory