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The impact of heuristics and biases on project risk management

 

The impact of heuristics and biases on project risk management

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Starting 15 February 2022 12:30 through to 15 February 2022 13:30

The whole process of project risk management involves people. Unfortunately (or maybe fortunately) people are influenced by numerous heuristics (rules of thumb) and biases. These influences, if not understood, can negatively impact the project risk management process making the outputs less realistic and useful.

The presentation will draw on the work of Dr Ruth Murray-Webster and Dr David Hillson and in particular ‘the Triple Strand’ – which highlights the combined influence of conscious factors, sub-conscious factor (heuristics and biases) and affective factors on the both the perception of risk as well as risk attitude.

While the whole risk management process is influenced by these factors, the first three stages of the process are particularly susceptible – Inhiation, Identification and Assessment. The particular influences on these areas will be discussed.

For further information and to book your place, please visit the APM website.

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