Mumpsimus Revisited

Author: H. Felix Kloman

The author starts with the history of risk management in 1905-1912, with a foundation in 1881 by Otto Von Bismarck, and in doing so reaches highlights until 1996, with mentioning the start of “The Global Association of Risk Professionals”. From then on, the book is a succession of articles, classified according to the main topic in chapters, varying in subjects within risk management, and difficulty.

Although the author in a funny way in the last chapter denounces the use of jargon, he assumes in the chapters about investments that the reader can follow the reasoning about captives. As a result, it is not a book for higher management, unless they have expertise in this and other matters.

In previous chapters, where he tells history, where he  breaks down the icons of risk management, and where he tells the parables, he is much more humane in his language. Towards the end of the book he gives an overview of the history of the captives.

The way in which the book is written makes it difficult to find a common thread. It is more a book to get a short piece of refreshing ideas about risk management in the evenings, or to learn about an aspect of risk management or its history that you were previously unaware of.

Throughout the book reference is made to the works of other authors. Unfortunately, they are not shown in a bibliography at the back.

Manu Steens

Manu works at the Flemish Government in risk management and Business Continuity Management. On this website, he shares his own opinions regarding these and related fields. Since 2012, he has been working at the Crisis Centre of the Flemish Government (CCVO), where he has progressed in BCM, risk management, and crisis management. Since August 2021, he has been a knowledge worker for the CCVO. As of January 2024, he works at the Department of Chancellery and Foreign Affairs of the Flemish Government. Here, he combines BCM, risk management, and crisis management to create a tailored form of resilience management to meet the needs of the Flemish Government.

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