How to Overcome Confirmation Bias in Risk Management
In the world of enterprise risk management, where objective analysis is essential, a silent threat can undermine even the most robust framework: confirmation bias. What is Confirmation Bias? Confirmation bias, the tendency to favour information that confirms pre-existing beliefs, can significantly impair risk identification, assessment and response. This bias can lead to a skewed perception of risk and its impacts, resulting in inadequate assumptions, mitigation strategies, and poor decision making and outcomes. ...