Published: Dec. 16, 2011
This article discusses how organizations should take a more strategic approach to weather risk. Heffernan explains how Monte Carlo simulation can be used to help with flood planning, hurricane response, and even volcano mitigation planning. He also advises on the right strategy to implement quantitative weather risk analysis; which includes supplying evidence; communicating clearly; illustrating with numbers; creating the right organizational structure; thinking laterally; viewing the complete picture; reporting and reviewing, and learning new tricks.