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OVERVIEW AND TOPICS
Types of Risk Analysis
Qualitative and quantitative analysis and tools used by risk managers.
Quantitative Analysis: Tools
Calculating three measures of statistical central tendency, differences between normal and skewed distribution, and forecasting future loss frequency.
Quantitative Analysis: Forecasting
Forecast losses using incident rates, how to use confidence intervals and linear regression to determine the accuracy of loss projections, how triangulation aids in understanding loss development factors and calculating payout patterns.
Time Value of Money Concepts
Time value of money concepts and how they are used in analysis of risks, evaluate risk control initiatives by comparing inflows/outflows using present and future values, making determinations on capital improvement projects with time value of money calculations.
Risk Management Decisions
Net Present Value Cost-Benefit Analysis to determine if Present Value of expected inflows exceeds expected outflows, use of depreciation and the effect of taxes on cash inflows/outflows and decision-making.
Risk Modeling
Uses of risk modeling, challenges presented, types of beneficial risk models, modeling data sources, how big data and thick data are collected and used, tools available for risk modeling and when to incorporate them into risk analysis.
Risk Analysis - Practical Application
Using a scenario, perform a specific remake risk management decisions, and defend your position.
