The boundary between modern times and the past is the mastery of risk: the notion that the future is more than a whim of the gods and that men and woman are not passive before nature. By understanding risk, measuring it, and weighing its consequences, risk-taking can be converted into one of the prime catalysts that drive modern Western society. By making high-quality decisions that reduce risk, societies have been transformed and allowed economic growth, improved quality of life, and technological progress. Thus mastery of statistics and decision theory are critical competencies to growing a company through development of new products. Utilizing the best-practices of this Compendium also improves decision quality and risk reduction.