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Darla Moore School of Business

Risk and Uncertainty Management Center

Working to improve decision-making under uncertainty

The Risk and Uncertainty Management Center takes a holistic approach to managing risk, emphasizing decision-making skills that are applicable across a wide variety of risks confronting organizations. Our overarching goal is to improve decision-making in situations involving uncertainty. The center provides knowledge, frameworks, tools and experiences that lead to better decision-making in situations involving a wide variety of risks confronting organizations. Students develop skills in risk management and decision-making through real-world project assessment and strategy development that factor in both opportunity and risk using a range of analytical tools and methods.

Our goals include producing graduates with analytical and qualitative decision-making skills and a holistic, enterprise-wide perspective of risk, supporting risk management research across a variety of disciplines and facilitating interaction between businesses, faculty and students on important risk management topics.

RUM point of view

Decision-making under uncertainty can be improved with:

  • Frameworks/tools/data analysis/probabilistic thinking
  • Awareness of behavioral biases and common errors committed by individuals and organizations
  • Better incentives and leadership                
  • Multi-disciplinary, enterprise-wide perspective
  • Recognition that opportunity accompanies risk

RUM objectives

  • Enhance the educational programs at the Moore School, specifically the risk management and insurance major and minor
  • Facilitate interaction between the university and practitioners on issues related to risk and uncertainty
  • Support research on risk and uncertainty