Risk Management: A Future Perspective

Abstract

We know that conventional risk management approaches are not sufficient to fully master all risk dimensions. In many cases when risk manifests itself, it appears as a surprise due to unknowns that are produced by dynamic complexity. As our experience and insights mature, the practice of risk management will mature and become a scientific discipline in its own right. Dynamic complexity emulation supports this move by revealing how a common component characteristic or behavior will impact a process with respect to another under different scenarios.