Re: More bad news for risk management

[Jeffrey Walton <noloader () gmail com>]

Hi Tom,

On Fri, Aug 17, 2012 at 12:43 AM, Tomas L. Byrnes <tomb () byrneit net> wrote:
> Ignoring risk is a perfectly valid way of managing it, if the return of
> putting the resources into the risky endeavor exceed the costs of
> putting them into managing the risk.
I know its common practice, but I respectfully disagree. Its been my
experience that most problems can be solved correctly from an
engineering standpoint. Risk acceptance (or ignoring risk) is often
used as a way to justify the sale or use of a defective product or
service.

Waiting or hoping for corporations to do the right thing is futile for
most corporations. Asking folks like you and I to use a defective
product because management wants to persue profits is a pervision. All
the more reason we (consumers and users) need strong liability and
merchanibility laws; and corporate boards should be held personably
liable for the negligence.

> It's probably hard wired into our psyche.
Not all of the people all of the time ;)

Jeff

> -----Original Message-----
> From: funsec-bounces () linuxbox org [mailto:funsec-bounces () linuxbox org]
> On Behalf Of Rob, grandpa of Ryan, Trevor, Devon & Hannah
> Sent: Tuesday, August 14, 2012 3:03 PM
> To: funsec () linuxbox org
> Cc: infosecbc () yahoogroups com
> Subject: [funsec] More bad news for risk management
>
> Overconfidence make you successful in business.
>
> http://www.dailymail.co.uk/sciencetech/article-2188148/Sir-Alan-Sugar-ef
> fect-
> Overconfidence-make-successful-workplace.html
>
> Not just confidence, mind you, *over*confidence.
>
> Add in the Dunning-Kruger effect:
> http://www.spring.org.uk/2012/06/the-dunning-kruger-effect-why-the-
> incompetent-dont-know-theyre-incompetent.php
>
> ... and the Peter Principle:
> http://en.wikipedia.org/wiki/Peter_Principle
>
> ... and you start to realize why all those huge banks keep failing ...
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