Risk analysis is a key feature of modern decision making for all industries. We cannot know what the future holds, but we need to be able to make informed, realistic and justifiable decisions in the face of uncertainty. Quantitative risk analysis provides us with the means to understand, value and manage the risks inherent in an uncertain world. To make efficient use of modern decision making methods is our task.

"If you don't know for sure what will happen, but you know the odds, that is risk: If you don't even know the odds, that is uncertainty."
Frank Knight, 1921