“Humanity has become remarkably adept at understanding how to mitigate conventional risks that can be relatively easily isolated and managed with standard risk-management approaches. But we are much less competent when it comes to dealing with complex risks in the interconnected systems that underpin our world, such as organizations, economies, societies and the environment.
“There are signs of strain in many of these systems: our accelerating pace of change is testing the absorptive capacities of institutions, communities and individuals.
“When risk cascades through a complex system, the danger is not of incremental damage but of “runaway collapse” or an abrupt transition to a new, suboptimal status quo.”
See: “The Global Risks Report 2018, 13th Edition” | World Economic Forum (WEF); Strategic Partners: Marsh & McLennan Companies, Zurich Insurance Company; Academic Advisors: National University of Singapore, Oxford Martin School, University of Oxford, Wharton Risk Management and Decision Processes Center, University of Pennsylvania
#art #artmarket #collectionsmanagement #data #analytics #risk #riskanalysis #riskmanagement #riskmitigation #climaterisk #insurance #insurancerisk #realestate #commercialrealestate #culturalrealestate #culturalheritage #luxury #resilience #CO2