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The way we think about risk is a significant factor to our effectiveness at contending with uncertainty However if we do not pursue the positive effects of uncertainty we will not create value; and at most other articles dealing with the positive side of risk: The Pursuit of Opportunities in the Presence of Uncertainty

However, there is something else we can count on, change always brings with it uncertainty. achieve project success we look for better ways to manage change or at least reduce the effects that uncertainty And it is these outcomes where we have greater degree of uncertainty in terms of: What the outcome is This is important because when uncertainty is left unchecked and risk has become a reality not only do

adaptive entities capable of generating both intended and unexpected behaviours in the presence of uncertainty SOTIF introduces a more nuanced perspective that recognizes inherent uncertainty in intelligent systems This is driven by the understanding that intelligent systems may exist within a context of profound uncertainty than a technical standard—it's a new approach to understanding safety in an increasingly complex and uncertain

This provides a sense of certainty and predictability. appears open to possibilities, in a deep sense, anything can happen – a source of potential but also uncertainty This contributes to the uncertainty we experience. According to the Heisenberg Uncertainty Principle, we can’t know with perfect accuracy both the position the measurement is taken knowledge of both the particle’s position and speed are possible but also uncertain

Risk refers to the uncertainty (ambiguity) with respect to reaching the goal. Uncertainty provides a motivation to be proactive - to improve the probability of success. Risks are the effects of uncertainty on our objectives which can be controllable or uncontrollable. Risks, as uncertainties related to goal attainment, push for proactivity to increase the probability

Nevertheless, labelling all of this as AI might unnecessarily create regulatory uncertainty and complexity

Compliance risk are the effects of uncertainty of non-conformance. These impede outcomes. Obligation risk (i.e. opportunities) are the effects of uncertainty of conformance.

May it help you defeat the dragon of uncertainty! Download your template here.

Instead, we’re confronted with additional uncertainty surrounding specific requirements that necessitate In contrast, Risk Management systematically addresses uncertainty through: Methodical reduction of controllable

compliance which in turn results in a divergence of attention and action creating greater complexity and uncertainty promise-based approach creates the opportunity for actions to converge which reduces complexity and uncertainty These systems are unable to keep up and as result increase the level of uncertainty and corresponding Unmitigated and Preventable Risk Obligation-based systems tend to assume certainty of the conditions In practice, they contend with uncertainty better because they assume that it exists right from the start

excited to delve into the realm of Lean Logistics and the profound impact that LEAN has on managing uncertainty

They knew that taking a chance means embracing uncertainty and the possibility of both good and bad outcomes risk management looks like: Risk adjusted plans improve the probability of success in the presence of uncertainty