The Pitfalls of Heat Maps: Powerful Alternative Risk Management Methods

August 23, 2017 @ 11:00-11:30 am CST

Register here

The "Risk Heat Map" is widely used as an entity-wide risk assessment tool, and is considered industry best practice to rank risky events and alternatives based on potential impact and probability of occurrence. It is fundamentally flawed, however, in that it can unintentionally produce arbitrary decisions and risk management actions under the guise of understanding and managing uncertainty. In this webinar, Dr. Eric Bickel will illustrate inherent flaws in the heat risk map and recommend other procedures to improve decision-making and risk management.

Speaker

Eric Bickel

Eric Bickel

Dr. Eric Bickel is an SDG Fellow and an associate professor at the University of Texas at Austin (UT-Austin), where he is Director of the Graduate Program in Operations Research & Industrial Engineering, and Academic Director of the Strategic Decision and Risk Management Certificate (SDRM) Program. Dr. Bickel also holds courtesy appointments in the Department of Petroleum and Geosystems Engineering and the Energy and Earth Resources graduate program.

Sponsor

This webinar is sponsored by Texas Executive Education at The University of Texas at Austin. Since 1955, Texas Executive Education has been providing businesses and professionals with the resources to lead, think strategically and manage change through its innovative, interactive and impactful programs.

Texas Executive Education is SDG's university partner in the Strategic Decision and Risk Management Certificate Program, a post-graduate curriculum for mid-career professionals that combines the academic and research depth of UT Austin's McCombs School of Business with SDG's real-world consulting experience. For more information on earning a certificate, visit SDRM at Texas Executive Education

.