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5.1.1 A Comparison of Correlation in Technical and Programmatic Risk and Cost Risk
Author(s) -
Krupa Joseph F.
Publication year - 2011
Publication title -
incose international symposium
Language(s) - English
Resource type - Journals
ISSN - 2334-5837
DOI - 10.1002/j.2334-5837.2011.tb01223.x
Subject(s) - correlation , risk analysis (engineering) , risk management , risk assessment , computer science , actuarial science , business , mathematics , finance , geometry , computer security
Correlation has long been a part of cost risk analysis. Although some risk management guides have indicated that correlations should be considered in technical and programmatic risk analysis, neither a method to include correlation nor an expected impact has been presented. This paper compares and contrasts the impact of correlation on cost risk and technical and programmatic risk, and presents a proposed methodology for implementation and expected results.