Author: H. Felix Kloman
This book is one of the two ‘collected works’ by H. Felix Kloman.
In The Fantods Of Risk, the author starts from some premises and preliminary conclusions: what is risk, what is risk management, what is the process, and what are the goals? Throughout the book, he tests out each of these conclusions to fit his ideas and all kinds of situations in the world. Leading to the first climax in chapter 14: “Does Risk Matter?”. Where he discusses the “four times three”-principle: four hypotheses, four questions, and four cautions about risk management and the risk manager. The The Fantods Of Risk concludes with an introduction: “The Future of Risk Management, Again”. Where he gives an overview of new objectives. The most important one being, to me at least, about “how to build and maintain the confidence of critical stakeholder groups”. On top of these, he also suggested new standards, in which he cites the ISO 31000 standard. He then followed this with new insights; directly perceptible risks, scientifically predictable risks, and virtual risks. Finally he finishes by sharing new tools for ERM.
It’s worth mentioning the author’s other work, “Mumpsimus Revisited,” which explores many similar ideas. These concepts could have been effectively incorporated into this book, particularly in the chapters leading up to the conclusion.