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7.5.1 Taking Out the Garbage – How to Get Good Risks into Your Risk Tool
Author(s) -
Parker Vikki
Publication year - 2007
Publication title -
incose international symposium
Language(s) - English
Resource type - Journals
ISSN - 2334-5837
DOI - 10.1002/j.2334-5837.2007.tb02937.x
Subject(s) - garbage , risk management , risk analysis (engineering) , computer science , risk assessment , computer security , business , finance , programming language
You have a sophisticated risk tool. You have leadership buy‐in on the importance of risk management and you have formal risk management communication channels. Yet, your risk assessment discussions swirl and your list of top risks does not accurately reflect what you know to be true. Worse, the risk information is not helpful in your organization's decision‐making forums. What else can you do? Consider the old saying “garbage in, garbage out.” Before you dazzle them with your quantitative analysis and Monte Carlo simulations, strive for getting good content into the tool. In this white paper, you will see examples of effective risk statements and learn a proven approach for getting better risk data into your organization's decision‐making activities – and put that sophisticated risk tool to good use.