Keynote address to OpRisk Europe Conference, 21 March, London:
- All risk is subjective. Risk is a word that refers to the future, and that exists only in the imagination.
- Risk management involves speculating about this future, about things that could go wrong, and about ways of preventing them.
- In recent years, in the public sector and throughout the worlds of commerce and industry there has been an explosion in the numbers of risk assessments undertaken and a remarkable increase in the thoroughness and comprehensiveness that they attempt.