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7.5.2 Risk Analysis
Author(s) -
Smith Eric D.,
Bahill A. Terry
Publication year - 2007
Publication title -
incose international symposium
Language(s) - English
Resource type - Journals
ISSN - 2334-5837
DOI - 10.1002/j.2334-5837.2007.tb02938.x
Subject(s) - affect (linguistics) , risk analysis (engineering) , risk management , computer science , risk perception , perception , data mining , artificial intelligence , business , psychology , communication , finance , neuroscience
This paper presents a risk analysis example with quantitative data for frequency of occurrence and severity of consequences. It presents an algorithm for deriving severity scores. Then it shows use of a risk management tool that is commonly used in industry. Finally it presents many other factors that affect human perception of risk. Identifying and controlling risk is a characteristic behavior of intelligent enterprises.