112. Inherent vs Residual risk - Alex Sidorenko
In this video, the speaker, Alex Sidorenko from Risk Academy, is discussing the concept of inherent and residual risk in risk management. He argues that the differentiation between inherent and residual risk is not necessary and not scientifically sound. He also states that risk management is a decision-making tool and that the concept of inherent and residual risk is not needed for this purpose. He also mentions that there are other tools like decision trees, scenario analysis, sensitivity analysis, Monte Carlo simulation and scoring mechanisms that can be used to measure risks, which do not require the concept of inherent and residual risk. He also mentions that he is interested in hearing other people's thoughts on this topic and says that it is a popular topic that is discussed in LinkedIn groups.
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