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One lesson was "a failure to guard against optimism and build in a margin for prudence against unexpected events".
The report recommends that A&Es should build in a "margin of safety" into their staffing plans, even if this meant they were overstaffed during quiet periods.
It's a classic "service platform" model, like AWS almost, where they build in a margin per delivery requested.
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"We are taking reasonable risk, we have built in an appropriate margin for error, it strengthens our business, and we have a clear ability to execute," Dimon said Sunday.
That sounds like a lot of downsides, and appears shortsighted, but that's why it's Plan C. Know your limits and build in margin for error.
But only those banks that build in big enough margins will still have profitable loan books when Libor rates start to rise once again.
It was established that ratios of characteristic to nominal values vary from 1.23 to 0.75, being unsafe or having a built in excess margin of safety, so new nominal values were proposed.
Swindon wasn't built in a day.
"Rome wasn't built in a day.
JET has had a long and productive working life because its designers built in plenty of margin.
"These explode unless you build in redundancy or back-up [this happened at Waterloo Station in 1999]." To counteract this, a glass beam will often use three pieces of glass laminated together to afford an error margin.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com