Risk, Data, Decisions - Making Risk Management Work from "No Data" to "Big Data"

Risk, Data, Decisions - Making Risk Management Work from "No Data" to "Big Data"
As much as risk managers love data, it is hard to come by. In this day of interactive workshop and industry talks, we explore how we can make machine learning work in risk management, but also deal with the real-life constraints of little to no data.

Risk managers help their organizations to make better fact-based decisions. The push towards "big data", machine learning and AI, with their promises of increased quality in risk management, is obvious.

However, it is equally obvious that we rarely have the data nor the skill in our risk management organizations today to seriously push a machine learning agenda.

In this day of industry talks and interactive workshops, we explore together:

  • 1) How do we decide where machine learning makes sense in our risk management processes? How do we get started, and what are some of challenges we can expect and best practices we can leverage?
  • 2) How can we use risk matrices appropriately, both in situations with low and high data fidelity?
  • 3) How much data is enough? How important is data quality and availability really to decision makers?

We will be joined by 35 risk management professionals from the Netherlands for this event.


From 8-9: Breakfast snacks and insipiring conversation for all early arrivals

  • 09:00 - Start of the formal program - Welcome
  • 09:20 - Industry Talk + Q&A: First Things First - Collecting, Cleaning and Warehousing Project Risk Data. Preparing the ground for Machine Learning Applications in Project Risk Management at Bygningsstyrelsen, the Danish Building and Property Agency. Mads Ole Aaris, Risk Manager, Bygningsstyrelsen
  • 09:40 - Industry Talk + Q&A: Machine Learning Examples in Project Risk (speaker to be announced)
  • 10:00 - Workshop: Risk Data - Availaibility and Usefulness
  • 10:35 - Refreshment Break
  • 10:45 - Industry Talk: Risk, Data and Decisions: Best practice cases from the Netherlands and Denmark (Part 1)
  • 11:30 - Industry talk: Risk Matrices: Connecting "big data" and "no data" - Søren Randrup-Thomsen, Head of Department Risk and Safety, Ramboll & Trine Veicherts, Project Risk Manager & Chefkonsulent, Vejdirektoratet
  • 12:00 - Lunch
  • 13:00 - Industry talk: It is time to audit your risk data - matching your risk management approach and your data reality. Hernan Huwyler, Sr. Lead IT Risk and Control Governance, Danske Bank
  • 13:45 - Industry Talk: Risk, Data and Decisions: Best practice cases from the Netherlands and Denmark (Part 2)
  • 14:45 - Individual Reflections and Take-Away Messages 
  • after 15:00: Invitation to a cocktail networking reception

The event takes place at the Hotel Imperial, Vester Farimagsgade 9, 1606 Copenhagen.

The event is co-organized and sponsored by the University of Twente's Executive Master in Risk Management, who graciously cover all cost to the participants. The event is also co-organized by DTU's RiskLab (risklab.dtu.dk) as the 10th DTU Risk Forum.

We follow the instructions of the authorities to be able to meet safely.
Read more here: Good corona behavior for IDA's events.

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  • When

    16. sep. 2021 08:30 - 15:00
  • Where

    Hotel Imperial, Vester Farimagsgade 9, 1606 København V

  • Registration Deadline

    10. sep. 2021 - 23:55

  • Organizer

    IDA Risk

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