Rick Nason, PhD, CFA
Partner, RSD Solutions Inc.
In graduate school (both when I was in physics and then later in business school) we spent a lot of time studying the philosophy of science – how do we know what we know and when do we know that we truly know it.
What are the discussion topics of the philosophy of risk management? How do we know what we know, and when do we know that we know it?
My first reaction is that many risk departments think they know more than they know and they only find out what they don’t know after they should have known it.
Risk management is not so much knowing as it is intuition, humility, flexibility and creativity. Not part of what we in academia would classify as knowledge.
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