Think Risk

8 Risk is not just about dollars

DOI: 10.4324/9781003329220-10

Learning Objectives

After reading this chapter, you will develop further knowledge on aspects of:

• History of financial performance-based metrics in management
• How additional nonfinancial metrics are increasingly being incorporated into overall strategies
• Issues and fairness and ethics as they relate to both financial and nonfinancial metrics when applied in a risk setting

This book has emphasized that risk science involves things we value. Many of us value all kinds of things, including health, safety, financial resources, our property, and many other aspects. One aspect that often gets the largest weight is life.

Thinking about life using monetary units can seem disturbing ...