The DFJ Entrepreneurial Thought Leaders Seminar (ETL) is a weekly seminar series on entrepreneurship, co-sponsored by BASES (a student entrepreneurship group), Stanford Technology Ventures Program, and the Department of Management Science and Engineering.
January 27th, 2010
Episode 116 of 309 episodes
Don't set sail without thinking first: this sage advice sums up risk analysis for Elisabeth Paté-Cornell, department chair of Management Science and Engineering at Stanford University. She explains that risk assessment involves the study of scenarios, probabilities, and consequences. A risk analyst uses logic and statistics to makes sense of uncertainties and provides possible solutions to derail disaster. While some events force quick thinking, most can be avoided with a little forethought. After all, she simplifies: risk analysis isn't just nuclear reactors, it's also real life.