US Navy and risk management - follow the ABCD process
The US Navy has an structured approach to risk management which is slightly different than the Marine Corps and US Army. (See our posts on
US Marine Corp
s and
US Army
risk management.) The US Navy actually has a trifold brochure for
Time Critical Risk Management.
Would you ever expect to see this from a money manager? Certainly, the ABCD process is a loop for determining any trade or portfolio action.
One of the key problems with risk management is not conceptual. We have theory and knowledge of what is required for good risk management. The issue is the decision-making process and implementation. This can be achieved through following the Navy trifold.
Money management has not cornered the market on good risk management processes. In fact, there may be a lot to learn from other disciplines that have to face significant uncertainty.
The US Navy has an structured approach to risk management which is slightly different than the Marine Corps and US Army. (See our posts on
US Marine Corp
s and
US Army
risk management.) The US Navy actually has a trifold brochure for
Time Critical Risk Management.
Would you ever expect to see this from a money manager? Certainly, the ABCD process is a loop for determining any trade or portfolio action.
One of the key problems with risk management is not conceptual. We have theory and knowledge of what is required for good risk management. The issue is the decision-making process and implementation. This can be achieved through following the Navy trifold.
Money management has not cornered the market on good risk management processes. In fact, there may be a lot to learn from other disciplines that have to face significant uncertainty.
RSS Import: Original Source
The most important insight of the day
Get the Harvest Daily Digest newsletter.
