On Sat, 18 Aug 2012 12:17:40 -0400, Jeffrey Walton said: > On Fri, Aug 17, 2012 at 12:43 AM, Tomas L. Byrnes <[email protected]> wrote: > > Ignoring risk is a perfectly valid way of managing it, if the return of > > putting the resources into the risky endeavor exceed the costs of > > putting them into managing the risk. > I know its common practice, but I respectfully disagree. Its been my > experience that most problems can be solved correctly from an > engineering standpoint.
Reading comprehension fail. Tomas's point is that yes, often there *is* an engineering solution. But if you invest $250K in an engineering solution for a problem that only risks $100K loss, you're being stupid. At that point, just making a note that you have a potential $100K liability and getting on with your life *is* the proper way to manage that risk. (Of course, if the engineering solution only costs $10K, then yes it should be pursued. But only when it costs less than just ignoring the risk).
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