The ideas, concepts, and viewpoints of risk and risk management are thoroughly critically analysed in this book, “Theory of Risk and Risk Management.” The book examines the trend of risk management in the future and critically evaluates a sizable number of publications and scholarly works. There are also more case studies, practical exercises, and work examples.
Statistical modelling of risk, decision theory, risk governance, risk theory, and methodologies and procedures for risk assessment and control are among the materials that make up the book’s distinctive blend. The author’s extensive academic and professional background in statistics, economics, risk management, insurance, and actuarial science will be advantageous to the reader.
This book will have accomplished its goal if it enables the reader to comprehend the advantages and disadvantages of risks, both financial and non-financial; evaluate the risk’s effect on achieving strategic objectives in both monetary and non-monetary terms; effectively manage risk using the best possible combination of risk treatment procedures; and pique the reader’s curiosity about more complicated subjects, like decision theory and quantitative risk measurement.
