Elisabeth Paté-Cornell (Stanford University) - Risky Business: Analysis from an Engineering Perspective

Entrepreneurial Thought Leaders (ETL)

Stanford eCorner

Business, Life Lessons, Creativity, Startups, Strategy, Thought Leadership, Education, Stanford University, Leadership, Challenges, Journey, Culture, Etl, Innovation, Founders, Stanford, Entrepreneurship

4.5 • 740 Ratings

🗓️ 27 January 2010

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Don't set sail without thinking first: this sage advice sums up risk analysis for Elisabeth Paté-Cornell, department chair of Management Science and Engineering at Stanford University. She explains that risk assessment involves the study of scenarios, probabilities, and consequences. A risk analyst uses logic and statistics to makes sense of uncertainties and provides possible solutions to derail disaster. While some events force quick thinking, most can be avoided with a little forethought. After all, she simplifies: risk analysis isn't just nuclear reactors, it's also real life.

Transcript

Click on a timestamp to play from that location

0:00.0	You are listening to the DFJ Entrepreneurial Thought Leaders series, brought you weekly by the Stanford Technology Ventures Program.
0:10.0	You can find podcasts and videos of these lectures online at eCORner.
0:15.0	.
0:17.0	Today we have a very special guest, and I want to introduce Professor Elizabeth Pate Cornell.
0:23.6	Professor Cornell was born in Senegal, and she attended schools in Senegal and then moved to France.
0:30.6	She ended up receiving her master's degree in operations research and then her PhD in engineering economic systems,
0:38.5	both at Stanford University. Then she became the chair of the management science and engineering
0:44.4	department, which is the position she has held for the last 10 years. Professor Pate-Cornell is a
0:50.7	member of the National Academy of Engineering and on the boards of many public companies.
0:55.0	She is an expert in the field of risk analysis. And today we're going to hear her insights
1:00.0	on risk and risk management from an engineering perspective. These are topics that are very
1:04.0	relevant to all of those people in the room who are interested in entrepreneurship.
1:08.0	Thank you, Tina. It's a great in entrepreneurship.
1:14.3	Thank you, Tina.
1:15.9	It's a great pleasure to be here.
1:20.1	And as you can hear, yes, I was not born in Brooklyn.
1:29.0	So I'm glad that I'm bringing to you some of my slides so that you can follow perhaps more easily. So so I'm going to talk about risks and I'm going to talk about risks from a different perspective
1:34.9	yes entrepreneurship in fact my what I've done in that in that domain is academic
1:40.3	entrepreneurship and the dependent of management science and engineering but what I'm going to try to show you is how we think about risks in the world of engineering
1:50.0	using systems analysis, probability, decomposing the problem, using all the information at our disposal,
1:58.0	and trying to pull all these together in a systematic manner.
2:01.6	Okay.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Stanford eCorner, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Stanford eCorner and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.