Every authoritative guideline on risk management advocates the quantitative (that is, probabilistic) evaluation of risk using Monte Carlo simulation – from ISO and COSO to Solvency II and Basel II/III. While there is some variation in terminology, there is a general agreement on the value of applying quantitative techniques within the basic process of risk management.
In this infographic, we outline a method that will gradually introduce risk analysis into your organization in a manner that builds on current risk management efforts, provides continuous benefits that reinforce the value of performing risk analysis, and establishes a sustainable and practical internal expertise and methodology.
Download this Infographic to learn how to incorporate risk quantification techniques into your risk analysis and transition from qualitative to quantitative risk measurement.