How to spot and avoid three major risk measurement fallacies

Using real-world commercial and open-source examples from the Travel Risk Intelligence and Duty of Care industry, this workshop will highlight three of the most common risk measurement flaws and fallacies: - nominal and ordinal scales - the flaw of averages - judgment noise and bias

We will demonstrate the effects of the above on individual and organizational decision-making quality, and present alternative best practices. Participants will learn how common and legacy risk ratings and information products may only deliver an illusory understanding of the risks to an individual and their employer, and occasionally result in substantive judgment errors.