Systemic and Systematic Risk Management

5 Problems and Problem-Solving

The risk management process is riddled with changes, problems and solutions because managing risks poses problems which need to be solved or remedied and change is an outcome, mostly desired but sometimes undesired. A risk mitigation strategy is a solution to the problem of managing risk but poses a problem to the people who will have to implement the strategy. Accordingly, this chapter^* discusses problems and problem-solving to explain how problem-solving deals with risks. The chapter:

1. Discusses perceptions of problem-solving from the HTPs in Section 5.1.

2. Discusses complexity and how to use the systems approach to manage complexity in Section 5.2 specifying the minimum number of elements in a system for it ...