Risk & Decision Analysis in Risk Management for Businesses

This practical book presents the Risk & Decision Analysis applications to Risk Management for Businesses. The book is purposed for experienced risk managers, risk analysts, financial risk managers, and the relating subject's degree students. The Risk Analysis is applied in: Launching a New Product in Production, Optimal Pricing Strategy in Marketing, Cash Flow & NPV Projection in Mining Industry, and Advanced Technology Profitability. The Decision Analysis is elaborated on: Developing a New Medicine in Pharmaceutical Industry, Oil Drilling in Petroleum Industry, Purchasing Strategy in Manufacturing Industry, and Biding for a Contract in Technology Industry. As powered with Sensitivity & What-If Analysis, Risk & Decision Analysis provides an essential tool for Risk Management improvements in Businesses. In conclusion, Bernstein stated, "the risk will always be there, so we must explore many interesting tools that can help us to control risks we cannot avoid taking" (Bernstein and Damodaran 1998). The method presented in this book is one such tool.