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Babcock Training Academy

We deliver world-class training in complex systems to AUS/NZ defence, government and high tech markets

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Babcock Training Academy
Level 10 70 Franklin Street Adelaide  SA  5000

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T:   +61 (0)8 8440 9507
F:   +61 (0)8 8312 3227
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Risk Intelligence

Course Description

Conventional risk management is limited for many reasons. One of which is the underlying assumption that people make rational decisions after carefully weighing all of the information available. However, this assumption may not hold due to biases in the manner in which people evaluate and draw inferences from the information they have. To address this limitation, this 2 day course presented by Dr Ricardo Valeridi aims to improve the risk intelligence of decision makers by quantifying and reducing overconfidence through calibration exercises.

The course is designed to enhance the "risk intelligence" of decision makers through a methodology for quantifying overconfidence and under-confidence based on research in psychology and economics. To improve risk intelligence, the course is designed to provide immediate feedback to participants on the accuracy of their confidence about various decisions to enable more realistic estimates of future outcomes.

Target Audience

Project Managers, Senior Managers and anyone who is responsible for taking Risk into the decision making process.

Course Outline

Day One

Fundamentals of Risk Management Introduction to Risk Intelligence, Biases, Heuristics
Analyse calibration curves Understanding calibration Risk Intelligence Training: How it works
Round 1 of Calibration Training Group Discussion: Evaluating your performance

Day Two

How to make decisions based on probabilities Analysing Hannah's choice Round 2 calibration training
Round 3 calibration training
Break out session: Which domains should you focus on when improving risk intelligence? In which areas would improved RQ give you most bang for your buck?
Group discussion and feedback Triangular distributions and confidence intervals around forecasts
Round 4 calibration training Group discussion and feedback: Next Steps

Course Details

Course start
Course end
Individual price
Extra Information Contact us today about upcoming dates for this course or tailored courses to suit you and your team!
Course location
Please register your interest in this course by contacting Babcock on +61 (0)8 8440 1498

Register Here!

Registering for one of our courses is easy! Simply fill out one of the below Course Registration Forms and return via email to training@babcock.com.au

Course Registration Form - Individual Registration Form

Course Registration Form - Group Registration Form

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