Risk Management Quotes

• Risk comes from not knowing what you're doing.

  Warren Buffett

  Life, Business, War

  "The Three Essential Warren Buffett Quotes To Live By" by James Berman, www.forbes.com. April 20, 2014.

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• Risk management is a more realistic term than safety. It implies that hazards are ever-present, that they must be identified, analyzed, evaluated and controlled or rationally accepted.

  Jerome F. Lederer

  Safety, Risk, Hazards

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• The essence of risk management lies in maximizing the areas where we have some control over the outcome while minimizing the areas where we have absolutely no control over the outcome.

  Peter L. Bernstein

  Lying, Essence, Risk

  Peter L. Bernstein (2012). “Against the Gods: The Remarkable Story of Risk”, p.239, John Wiley & Sons

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• If you don't invest in risk management, it doesn't matter what business you're in, it's a risky business.

  Gary Cohn

  Risk, Matter, Management

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• Even a correct decision is wrong when it was taken too late.

  Lee Iacocca

  Inspirational, Business, Taken

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• Risk is a function of how poorly a strategy will perform if the 'wrong' scenario occurs.

  Michael Porter

  Risk, Management, Strategy

  Michael E. Porter (1985). “Competitive Advantage: Creating and Sustaining Superior Performance”

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• The key to risk management is never putting yourself in a position where you cannot live to fight another day.

  Richard S. Fuld, Jr.

  Fighting, Keys, Risk

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• Managing risk is very different from managing strategy. Risk management focuses on the negative-threats and failures rather than opportunities and successes.

  Robert S. Kaplan

  Opportunity, Risk, Negative

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• What we learn from history is that people don't learn from history.

  Warren Buffett

  Learning, People, History

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• It's better to solve the right problem approximately than to solve the wrong problem exactly.

  John Tukey

  Risk, Management, Problem

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• Having no problems is the biggest problem of all.

  Taiichi Ohno

  Problem, No Problem

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• The essence of investment management is the management of risks, not the management of returns.

  Benjamin Graham

  Essence, Risk, Investing

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• One thing that makes it possible to be an optimist is if you have a contingency plan for when all hell breaks loose.

  Randy Pausch

  Worst Case Scenario, Risk, Management

  Randy Pausch, Jeffrey Zaslow (2008). “The last lecture”, Hyperion Books

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• Thoughtfully assessing and addressing enterprise risk and placing a high value on corporate transparency can protect the one thing we cannot afford to lose: trust.

  Dale E. Jones

  Risk, Management, Transparency

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• Indeed, better risk management may be the only truly necessary element of success in banking.

  Alan Greenspan

  Risk, Banking, Elements

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• Everything that can be counted does not necessarily count; everything that counts cannot necessarily be counted.

  Albert Einstein

  Love, Inspirational, Life

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• Test fast, fail fast, adjust fast.

  Tom Peters

  Risk, Tests, Failing

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• We demand rigidly defined areas of doubt and uncertainty!

  Douglas Adams

  Humorous, Profound, Doubt

  Douglas Adams (2010). “The Ultimate Hitchhiker's Guide to the Galaxy”, p.158, Del Rey

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• Risk is just an expensive substitute for information.

  Adrian Slywotzky

  Risk, Information, Management

  "The Upside". "HBR IdeaCast" with Paul Michelman, hbr.org.

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• Successful problem solving requires finding the right solution to the right problem. We fail more often because we solve the wrong problem than because we get the wrong solution to the right problem.

  Russell L. Ackoff

  Successful, Risk, Management

  "Redesigning the Future: a Systems Approach to Societal Problems". Book by Russell L. Ackoff, p. 8, 1974.

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• Adventure without risk is Disneyland.

  Douglas Coupland

  Travel, Adventure, Risk

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• You want a valve that doesn't leak and you try everything possible to develop one. But the real world provides you with a leaky valve. You have to determine how much leakiness you can tolerate.

  Arthur Rudolph

  Real, Risk, Trying

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• If you only take small risks, you are only entitled to a small life.

  Robin Sharma

  Risk, Management, Small Life

  Twitter post from Mar 30, 2014

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• A good rule of thumb is to assume that everything matters.

  Richard Thaler

  Risk, Thumbs, Matter

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• In financial services, if you want to be the best in the industry, you first have to be the best in risk management and credit quality. It's the foundation for every other measure of success. There's almost no room for error.

  John G. Stumpf

  Errors, Risk, Quality

  19 Copy quote