Review: Managing Risk and Uncertainty

Managing Risk and Uncertainty by Richard Friberg
My rating: 4 of 5 stars

I took a couple of days after reading this book to provide my rating and this review. I did it on purpose so i could mature the idea of what to write and how to rate it. Looking back it was a wise decision as the rating will be higher today if i did it immediately after (in fact would be a 3,5 stars).

I got this book by chance, while looking for books on risk, and the thing that made me read it was its synopsis and coming from MIT press, most probably I'm one of the few that did it (looking at goodreads jhistoric and even the information available on Amazon).

So why did i like it:
- Presented in an operational framework on how to think about risk and uncertainty and how to manage it, through different lenses and specific areas within a company;
- Ran through several areas related with risk & uncertainty (finance, economics, pricing, forecasting, behavioral science) explaining the basics and also disclosing the sources of it synthesis that allows a interested reader to deepen his knowledge in case he finds it appropriate (i will do it myself in a couple of areas);
- Disclosed the how the author thinks and approaches risks and uncertainty and you can use (always adding your critical reasoning and experience) to your day-to-day live. The 4 main strategies are a great starting point, at least how to structure it
- It requires (and can be a severe handicap for the ones not with sufficient literacy) at least a intermediate level of economic and finance knowledge to not get lost in quite a few areas. It made me revisit several concepts that i did not thought and operacionalize for a long time.

What i did not like:
- the books loses when it tries to be also a text book. Gets caught on the midst of a technical book with a specific body of knowledge, and a text book to support specific lectures on risk and uncertainty;
- The online resources are not currently available, that hamper the full resources that should be available;
- The examples that are quite good and insightful but could be complemented with additional examples (fully explained and resolved) and solution on the online resources.

I do think it was time worth spent reading it and for people that would like to broaden their horizons on this topic I do recommend its reading. I know that I will use specific areas of knowledge presented on my daily professional activity.


View all my reviews