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When life is uncertain things are unclear, you don’t know what to expect, and you react to things when Life under uncertainty is a slow process. Compliance under uncertainty is also a slow process. So how does one make progress and move faster? approaches fail to address the root cause which is the lack of knowledge or what is called epistemic uncertainty If one wants to make progress it is important to contend with this uncertainty.

The causality model chosen to describe a system often leads to specific methods and tools to address uncertainty

Every business operates in the presence of uncertainty. This uncertainty creates the opportunity for risk.

As beneficial as that might be it does not capture the full nature of uncertainty. associated with the word risk, "Risk Management" is getting in the way of effectively contending with uncertainty Change Operationally, compliance at its core is the practice of meeting obligations in the presence of uncertainty means meeting all your obligations (conformance, performance, and outcome-based) in the presence of uncertainty To reflect the shift to improve the certainty of meeting obligations we have elected to call these certainty

All the waste that LEAN seeks to eliminate is caused by the same thing: uncertainty, and this uncertainty Here are a few examples of how this happens: We create defects because of uncertainty associated with than necessary because of logistics uncertainty. We move more than necessary because of uncertainty associated with work procedures and standards. If you want to eliminate waste, eliminate uncertainty first.

For purposeful and goal-oriented organizations, sources of uncertainty can often be found with respect Uncertainty of the goals and objectives Companies use roadmaps to take them from where they are now Uncertainty of any of the elements of the roadmap will impact mission success which include: Uncertainty they are now Uncertainty with their prediction of the future Not addressing these uncertainties may Processes may be defined but tend not to be effective (ordered uncertainty).

In cases of greater uncertainty these models will be adjusted over time as more information is gathered Risk Risk is defined (ISO 31000, COSO) as the effects of uncertainty on objectives which involves having However, everything happens in the presence of uncertainty so it is important to properly identify uncertainty There are two primary forms of uncertainty: Epistemic uncertainty; lack of knowledge or know how; this Reducible risk is treated by buying down uncertainty to improve the probability of meeting each objective

medical device, chemical processing, high-tech, government, and others is that the ability to address uncertainty The ability to handle uncertainty is designed, maintained, and improved throughout the expected life For all companies that contend with uncertainty risk planning and implementation is not optional. Without adequate preparation it is not possible to effectively prevent or recover from the effects of uncertainty What is effective is handling uncertainty by design.

However, when uncertainty (the root cause of risk) is connected with natural variation (aleatory uncertainty Also, when uncertainty is due to a lack of knowledge (epistemic uncertainty) prediction is limited based We need to estimate uncertainty (both aleatory and epistemic), its impacts, and the effectiveness of

Hazards are sources of uncertainty, and as we know, uncertainty creates the opportunities for risk. You can try, and many will, to deal with the combinatorial explosion of the effects of AI uncertainty Yet, some will take the advice of the wise risk manager and contend with the uncertainties first. Heed the advice of the wise risk manager: “If you want to handle AI risk, contend with the uncertainties

Staying between the lines is focused on keeping risk out and certainty in. This is a dynamic and continuous endeavour to keep the dragons of uncertainty at bay and far enough away This is accomplished by contending with uncertainty using margins and buying down risk to levels needed Improvements are triggered by the presence of uncertainty between us and our objectives.

The primary purpose of risk management is to handle the possible effects of uncertainty against specified Risk is always associated with uncertainty as defined by ISO 31000 where risk is, “the effects of uncertainty We can therefore classify risk treatments according to the nature of this uncertainty as follows: Risk due to epistemic uncertainty; lack of knowledge or know how; this risk is reducible. Risk due to aleatory uncertainty ; caused by inherent randomness or natural/common variation; this risk