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Analyzing Weather Risk: A Quantitative Approach

Dec. 16, 2011
Abigail Jacobsen
Published: Dec. 16, 2011

This article discusses how organizations should take a more strategic approach to weather risk. Heffernan explains how Monte Carlo simulation can be used to help with flood planning, hurricane response, and even volcano mitigation planning. He also advises on the right strategy to implement quantitative weather risk analysis; which includes supplying evidence; communicating clearly; illustrating with numbers; creating the right organizational structure; thinking laterally; viewing the complete picture; reporting and reviewing, and learning new tricks.

Click here to read the article.

This article discusses how organizations should take a more strategic approach to weather risk. Heffernan explains how Monte Carlo simulation can be used to help with flood planning, hurricane response, and even volcano mitigation planning. He also advises on the right strategy to implement quantitative weather risk analysis; which includes supplying evidence; communicating clearly; illustrating with numbers; creating the right organizational structure; thinking laterally; viewing the complete picture; reporting and reviewing, and learning new tricks.

Click here to read the article.

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