A clear understanding of what we know, don't know, and can't know should guide any reasonable approach to managing financial risk, yet the most widely used measure in finance today--Value at Risk, or VaR--reduces these risks to a single number, creating a false sense of security among risk managers, executives, and regulators. This book introduces a more realistic and holistic framework called "KuU"--the "K"nown, the "u"nknown, and the "U"nknowable--that enables one to conceptualize the different kinds of financial risks and design effective strategies for managing them. Bringing together contributions by leaders in finance and economics, this book pushes toward robustifying policies, portfolios, contracts, and organizations to a wide variety of "KuU" risks. Along the way, the strengths and "limitations" of "quantitative" risk management are revealed.

In addition to the editors, the contributors are Ashok Bardhan, Dan Borge, Charles N. Bralver, Riccardo Colacito, Robert H. Edelstein, Robert F. Engle, Charles A. E. Goodhart, Clive W. J. Granger, Paul R. Kleindorfer, Donald L. Kohn, Howard Kunreuther, Andrew Kuritzkes, Robert H. Litzenberger, Benoit B. Mandelbrot, David M. Modest, Alex Muermann, Mark V. Pauly, Til Schuermann, Kenneth E. Scott, Nassim Nicholas Taleb, and Richard J. Zeckhauser.Introduces a new risk-management paradigm Features contributions by leaders in finance and economics Demonstrates how "killer risks" are often more economic than statistical, and crucially linked to incentives Shows how to invest and design policies amid financial uncertainty

This textbook presents key theoretical approaches to understanding issues of sustainability and environmental management, perfectly bridging the gap between engineering and environmental science. It begins with the fundamentals of environmental modelling and toxicology, which are then used to discuss qualitative and quantitative risk assessment methods, and environmental assessments of product design. It discusses how business and government can work towards sustainability, focusing on managerial and legal tools, before considering ethics and how decisions on environmental management can be made. Students will learn quantitative methods while also gaining an understanding of qualitative, legal, and ethical aspects of sustainability. Practical applications are included throughout, and there are study questions at the end of each chapter. PowerPoint slides and jpegs of all the figures in the book are provided online. This is the perfect textbook on environmental studies for engineering and applied science students.

""Should We Risk It?" is a timely and unique book. Its 'hands-on' approach to diverse risk problem-solving and decision-making methods fills a long-existing void. Using real-world problems, it introduces basic and more advanced methods in a clear, evenhanded, and thought-provoking manner. The more people who read it--both those already active in risk policy and those with a general interest--the better we as a society will be ready to cope with increasingly complex risk decisions. This book will improve both risk-based decisions and the associated public discourse."--William Ruckelshaus, former Administrator of the U. S. Environmental Protection Agency

"This is a splendid book. It should be of interest to a wide range of students and professionals across the environmental and health sciences."--John Harte, University of California, Berkeley; author of "Consider a Spherical Cow"

"Dan Kammen and David Hassenzahl have filled a long-standing need and have done it brilliantly. Their book provides the bridge between the technical tooks of risk analysis and the real world of health and environmental problems. Mastering the contents of this book should be a requirement for anyone--student or policy maker--who wants to understand risk analysis."--J. Clarence "Terry" Davis, Director, Resources for the Future Center for Risk Management

"The authors have done a remarkable job of showing the common structures underlying the variety of risks that we face in our personal and professional lives. Moreover, their approach allows integrating the diverse forms of knowledge needed to address these complex problems. Readers will think differently after reading this book."--Baruch Fischhoff, Professor of Social and Decision Sciences, Carnegie Mellon University

"This book will be very useful as a text in a risk-analysis class. It will also be a valuable reference for practitioners of risk assessment in industry, government, and consulting. . . . The organization of the book is logical and effective."--James K. Hammitt, Harvard University

Tourism destinations are traditionally dominated by small and medium-sized enterprises that provide a wide range of products to tourists such as accommodation, travel services, transportation, recreation and entertainment, and food and beverage services. New knowledge and global risks have emerged, and small and medium-sized tourism enterprises (SMTEs) are now highly vulnerable. Recently, the COVID-19 pandemic has hit the whole world and caused a change in the tourism paradigm. Many SMTEs around the world have been severely affected by the need to completely shut down their activities for months, and expectations for recovery in the medium term are not optimistic. SMTEs do not have the capacity and increased resources-financial, human, operational-of large companies to prepare for crisis contingencies (planning) and respond to the challenges they face. They simply do not have the resources or knowledge for risk analysis and the creation of crisis teams or plans. This is an area of growing importance and concern, both in the public and private sectors, where specific research and more in-depth knowledge are needed. Risk, Crisis, and Disaster Management in Small and Medium-Sized Tourism Enterprises connects research in the field of crisis management with the risks affecting small and medium-sized tourism enterprises. The book presents prevailing research on SME-related planning, response, and recovery during crisis situations, further propelling much-needed literature on these challenges in today's tourism industry. The chapters cover important topics such as terrorism threats, disaster management, resilient strategies, pandemic management, and risk analysis. The target audience of this book will be composed of professionals working in the tourism and hospitality industries, restaurateurs, travel agencies, hotel executives, directors, managers, crisis and risk planners, policymakers, government officials, researchers, and academicians who are interested in the threats to tourism businesses and how small and medium-sized enterprises can manage and navigate these risks.

Advances in Safety, Reliability and Risk Management contains the papers presented at the 20th European Safety and Reliability (ESREL 2011) annual conference in Troyes, France, in September 2011. The books covers a wide range of topics, including: Accident and Incident Investigation; Bayesian methods; Crisis and Emergency Management; Decision Making under Risk; Dynamic Reliability; Fault Diagnosis, Prognosis and System Health Management; Fault Tolerant Control and Systems; Human Factors and Human Reliability; Maintenance Modelling and Optimisation; Mathematical Methods in Reliability and Safety; Occupational Safety; Quantitative Risk Assessment; Reliability and Safety Data Collection and Analysis; Risk and Hazard Analysis; Risk Governance; Risk Management; Safety Culture and Risk Perception; Structural Reliability and Design Codes; System Reliability Analysis; Uncertainty and Sensitivity Analysis. Advances in Safety, Reliability and Risk Management will be of interest to academics and professionals working in a wide range of scientific, industrial and governmental sectors, including: Aeronautics and Aerospace; Chemical and Process Industry; Civil Engineering; Critical Infrastructures; Energy; Information Technology and Telecommunications; Land Transportation; Manufacturing; Maritime Transportation; Mechanical Engineering; Natural Hazards; Nuclear Industry; Offshore Industry; Policy Making and Public Planning.

This study explores the potential impacts of compounding risk between natural hazards and infectious disease outbreaks such as the recent COVID-19 pandemic in the Central Asia Regional Economic Cooperation (CAREC) region. Compound risk occurs when two or more shock events overlap, inducing additional pressure on social and physical vulnerabilities. As part of the study, scenarios of a natural hazard occurring during an outbreak are created for each CAREC country. The study concludes that compound risk may pose a challenge for the CAREC region in terms of elevated costs of response due to higher operational complexity, longer timelines required for reconstruction, and higher procurement costs resulting from supply interruptions or price shocks. It is therefore important to consider compound risk when investing in disaster risk management.

This publication identifies financial inclusion priorities to stimulate economic recovery and explores the challenges and opportunities of accelerated digital transformation. The coronavirus disease (COVID-19) pandemic has highlighted the vital role of financial inclusion in supporting resilience and economic recovery among the most vulnerable populations in Asia and the Pacific. This publication proposes recommendations to aid policy makers and regulators. It shares insights from the 2021 Asia-Pacific Financial Inclusion Forum, a policy initiative of the Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Process. It was prepared in collaboration with the APEC Business Advisory Council, the Asian Development Bank Institute, and the Foundation for Development Cooperation.

Manage, control, and optimize the cloud spend on AWS. Key Features * Learn best practices in implementing a Cloud FinOps discipline with AWS * Set up your organization for success by enabling people, process, and organization * Choose the right pricing model strategy to optimize usage of AWS resources Book Description Much like how DevOps is a combination of cultural philosophies, practices, and tools that advocate a collaborative working relationship between development and IT operations, FinOps encourages the same collaboration between technology and finance teams. Organizations with a mature FinOps practice decentralize cost ownership to developer teams, and encourage cross-functional collaboration between business, finance, and technology enabling speed, innovation, and business growth. You'll learn how to structure your organization to form the right FinOps team including a Cloud Center of Excellence. You'll learn how to implement practical cost savings measures with AWS tools and processes to optimize cost in both the short- and long-term. By the end of this book, you'll have the basis to implement a successful Cloud FinOps practice for your organization to get the best value of the AWS cloud for your workloads. What you will learn * Use AWS services to monitor and govern your cost usage and spend. * Implement automation to streamline cost optimization operations. * Design the best architecture to fit your workload to optimize on data transfer. * Maximize efficiency with elasticity strategies to optimize on costs. * Leverage cost optimization levers to save on compute and storage costs. * Identify strategies to create and govern the right cost metrics to bring value to your organization. Who This Book Is For This book is for enterprise architects, cloud architects, CFOs, CTOs, product managers, finance managers, and FinOps practitioners looking to optimize their use of the cloud. This book reveals tools, strategies, and frameworks to minimize costs that will allow your business to realize sustainable financial benefits and to efficiently use cloud resources.

This publication discusses lessons learned from and achievements of the Integrated Disaster Risk Management (IDRM) Fund in supporting ADB technical assistance projects in Southeast Asian developing member countries. The Government of Canada and ADB established the IDRM Fund in February 2013 to advance proactive integrated disaster risk management measures on a regional basis in Cambodia, Indonesia, the Lao People's Democratic Republic, Myanmar, the Philippines, Thailand, and Viet Nam. The IDRM Fund funded 19 technical assistance projects with a gender-focused approach to IDRM and reflecting regional solutions that produce cross-border disaster management.