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Discussion board... must include original questions or comment with reply... no special format or cover page needed no ref needed.. must answer in your own words... answers must be (Each question) 130 words min and 150 max...



1.  With analytics there can be bias by the assessor if they are given a certain end result that the company would like. This can lead that analyst to focus on that desired outcome and try to make it happen no matter the data. This can be problematic as your change is likely to fail because the risks were not properly assessed. How could this problem be prevented or addressed? 



RESPOND TO THE FOLLOW COMMENTS USING YOUR OWN WORDS ANSWERS MUST BE 130 WORDS MIN AND 150 MAX


2.   Many of today’s organizations gather risk information from the different divisions and departments, by separating them into operational units without understanding the correlation between them.  This separation makes evaluating those organizational risks extremely difficult to assess.  As a result, Risk Managers (RM) and Chief Financial Officers (CFO) struggle with unstable and weak founded risk assessments causing them to assume correlation between the departments and producing inconsistent risk metrics.  Risk aggregation does not apply to financial risks along, however relates to threats associated with other divisions and departments.  It is the accumulation of the total risk exposures of several types of risks throughout the organization, along with the ability to compare the risk exposures to  the organization’s correlatedstatement. 


3.  I really enjoyed reading your post regarding aggregated risks.




It made me think of an analogy that I have learned and used many times, "When ice cream sales increase, so do homicide rates.

(1)"  Therefore, one could assume people who eat ice cream murder people.  The issue at hand is really correlation vs. causation.  Although statistically you could potentially see a correlation between the two, one is not the direct cause of the other.  People eat more ice cream when it is hot and then high temperatures cause peoples emotions to short fuse, resulting in murder

(2).  Just as in your post, if you separate the numbers enough or don't look at the whole picture then we would all stop eating ice cream for no good reason :)




Reference:

K. Scheidegger, Rebutting the myths about race and the death penalty (2012) (available at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2178223).

https://plebeianscience.wordpress.com/2017/06/18/why-ice-cream-isnt-deadly-correlation-vs-causation/


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