Risky Business: Analysis from an Engineering Perspective

Title: Risky Business: Analysis from an Engineering Perspective
Date: 2010-01-27
Speaker: Elisabeth Pate-Cornell (Stanford University)
Link: Entrepreneurial Thought Leaders
When you look at risks look at what is ahead of you.
In the world of uncertainties you seldom have statistics.
Risk is not an expected value.
All risks don’t need to be qualified but it helps.
Give the right incentives to the people that are the operators of your system.
No problem is too big or too small.
Getting the right data from the right people, and using probability, allows you to put resources where they are needed the most.
You’re never going to have something that is 100% safe.
You need a very good support system (at the beginning).
The first requirement of good entrepreneurs is to be good team builders.
When you realize you’re on the wrong track start from scratch.
Do not get stuck in a rut.