Understanding & Managing Risk Attitude

David Hillson and Ruth Murray-Webster

Gower Publishing, 2005

ISBN: 0566086271

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This book aims to help the reader understand the human aspects of risk management in order to proactively manage the influence of human behaviour on the risk process. It is targeted at risk practitioners, senior managers and directors, project managers and human resource professionals.

The authors seek to presennt a practical and applied framework based on their shared experience and expertise first to demonstrate the problem, going on to understanding risk attitudes and emotional literacy and then moving on to implementation issues.

I did not find the book particularly readable. For me it had very much the feel of a textbook rather than a business reader and I felt that in many areas it was reiterating familiar material rather than giving me new insights. This may be due at least in part to my own interest in the human aspects of risk which I have explored for some time. I found chapter three which considers the general principles of risk attitudes contained some interesting and helpful graphic representations of the risk attitude spectrum, and for me this was the best part of the book.

The book explores risk attitude at both individual and group levels. It goes on to consider the dynamics which can influence such attitude and how good understandings of these might be used to modify or adapt organisational risk attitude. There is a comprehensive reference section at the end of the volume giving a range of pointers towards useful wider reading.

On a personal level I found the book disappointing in failing to deliver the new thinking I had anticipated. I suspect that it would prove more useful to those commencing their exploration of the human aspects of risk management and risk attitude and as such would provide a useful starting point and reference work.

Reviewed by Sheila Boyce FIRM, Risk Manager, Metropolitan Housing Trust, Director IRM