Risk Opportunity Analysis
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Author | : Ralph Vince |
Publisher | : Createspace Independent Publishing Platform |
Total Pages | : 0 |
Release | : 2012-02-03 |
Genre | : Opportunity |
ISBN | : 9781466344402 |
Every day, billions of human beings are making dozens of decisions that do not appear based on the same, seemingly sound mathematical principles they would apply to a gambling or investing situation. Yet these decisions are not irrational, rather they are the product of an innate sense pertaining to risk and opportunity. This Second Edition is presented for the non-mathematician (though the underlying math is provided for those who are interested), and not only gives reason to reconsider the bases we assess gambling and investing situations, but reveals this magnificent, innate ability we possess.For decades various mathematical notions have presented themselves which, though applicable to domains such as probability, game theory, operations research, and quantitative finance, have fallen essentially outside the purview of these various disciplines. Yet the concepts detailed in this text are all related, and taken together comprise their own niche-discipline, introduced here as Risk-Opportunity Analysis.
Author | : David Hillson |
Publisher | : CRC Press |
Total Pages | : 354 |
Release | : 2003-11-19 |
Genre | : Computers |
ISBN | : 9780203913246 |
With step-by-step guidelines, this bestselling reference discusses the management of project opportunities by expanding the traditional risk management process to address opportunities alongside threats. It offers valuable tools and techniques that expose and capture opportunities, minimize threats, and deal with all types of uncertainty in your business and projects. Written by an experienced consultant and risk management specialist, this guide emphasizes that risk processes must cover both opportunities and threats if they are to assist in accomplishing project objectives and maximizing business benefits.
Author | : Allan S. Benjamin |
Publisher | : John Wiley & Sons |
Total Pages | : 360 |
Release | : 2017-02-06 |
Genre | : Business & Economics |
ISBN | : 1119288428 |
Risk management strategy for the pioneering technological sector Enterprise Risk and Opportunity Management provides much-needed guidance tailored specifically to the technological sector. While most enterprise risk management guides are written for traditional businesses and finance firms, this book translates effective enterprise risk and opportunity management (EROM) principles into strategies and practices that work for government, nonprofit, and for-profit organizations in the technological space. Originally designed for noncommercial pioneering enterprises like NASA, an entire chapter is now devoted toward applying the methods to profit-making technological enterprises. A 40-year veteran of the tech sector, Dr. Allan Benjamin outlines risk management strategies for organizations in which the advancement and integration of science and technology within complex systems is necessary for accomplishment of the mission. Commercial EROM strategies do not translate directly when the development and implementation of risky technologies is the organization's primary objective, and clumsy or near-sighted implementation can easily cripple progress. This book provides authoritative guidance tailored to the sector's specialized needs. Maximize opportunity while effectively managing risk Understand the core principles of the technological EROM approach and its interfaces with the management of the organization Comprehend the intricacies of aggregating risks and opportunities from lower to higher levels of the organization Gain expert insights specific to the technology sector Mitigate and control the risk that comes with pursuing discovery In practice, EROM in this sector involves working with mostly qualitative data, and is characterized by high uncertainty. Managing risk without handicapping the organization requires a specific set of adjustments to traditional EROM, and a more nuanced approach to the idea of "acceptable risk. Balance is key in technological EROM, and Enterprise Risk and Opportunity Management provides foundational guidance, real-world strategy, and enlightening examples for getting it right.
Author | : Brian Hagen |
Publisher | : Probabilistic Publishing |
Total Pages | : 368 |
Release | : 2018-08 |
Genre | : |
ISBN | : 9781941075036 |
Dr. Hagen presents a complete system by which companies can more easily and consistently manage their portfolio of problems, risks, and opportunities. His methodology was based on a foundation of neuroscience and logical decision analytics.
Author | : National Academies of Sciences, Engineering, and Medicine |
Publisher | : National Academies Press |
Total Pages | : 225 |
Release | : 2020-06-01 |
Genre | : Political Science |
ISBN | : 0309498619 |
In 2018, the National Academies of Sciences, Engineering, and Medicine issued an Interim Report evaluating the general viability of the U.S. Department of Energy's National Nuclear Security Administration's (DOE-NNSA's) conceptual plans for disposing of 34 metric tons (MT) of surplus plutonium in the Waste Isolation Pilot Plant (WIPP), a deep geologic repository near Carlsbad, New Mexico. It provided a preliminary assessment of the general viability of DOE-NNSA's conceptual plans, focused on some of the barriers to their implementation. This final report addresses the remaining issues and echoes the recommendations from the interim study.
Author | : Alan R. Jones |
Publisher | : Routledge |
Total Pages | : 292 |
Release | : 2018-09-13 |
Genre | : Business & Economics |
ISBN | : 1351661299 |
Risk, Opportunity, Uncertainty and Other Random Models (Volume V in the Working Guides to Estimating and Forecasting series) goes part way to debunking the myth that research and development cost are somewhat random, as under certain conditions they can be observed to follow a pattern of behaviour referred to as a Norden-Rayleigh Curve, which unfortunately has to be truncated to stop the myth from becoming a reality! However, there is a practical alternative in relation to a particular form of PERT-Beta Curve. However, the major emphasis of this volume is the use of Monte Carlo Simulation as a general technique for narrowing down potential outcomes of multiple interacting variables or cost drivers. Perhaps the most common of these in the evaluation of Risk, Opportunity and Uncertainty. The trouble is that many Monte Carlo Simulation tools are ‘black boxes’ and too few estimators and forecasters really appreciate what is happening inside the ‘black box’. This volume aims to resolve that and offers tips into things that might need to be considered to remove some of the uninformed random input that often creates a misinformed misconception of ‘it must be right!’ Monte Carlo Simulation can be used to model variable determine Critical Paths in a schedule, and is key to modelling Waiting Times and cues with random arisings. Supported by a wealth of figures and tables, this is a valuable resource for estimators, engineers, accountants, project risk specialists as well as students of cost engineering.
Author | : Frank H. Knight |
Publisher | : Cosimo, Inc. |
Total Pages | : 401 |
Release | : 2006-11-01 |
Genre | : Business & Economics |
ISBN | : 1602060053 |
A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Author | : Günther Ruhe |
Publisher | : Springer |
Total Pages | : 490 |
Release | : 2014-09-04 |
Genre | : Computers |
ISBN | : 3642550355 |
By bringing together various current directions, Software Project Management in a Changing World focuses on how people and organizations can make their processes more change-adaptive. The selected chapters closely correspond to the project management knowledge areas introduced by the Project Management Body of Knowledge, including its extension for managing software projects. The contributions are grouped into four parts, preceded by a general introduction. Part I “Fundamentals” provides in-depth insights into fundamental topics including resource allocation, cost estimation and risk management. Part II “Supporting Areas” presents recent experiences and results related to the management of quality systems, knowledge, product portfolios and global and virtual software teams. Part III “New Paradigms” details new and evolving software-development practices including agile, distributed and open and inner-source development. Finally, Part IV “Emerging Techniques” introduces search-based techniques, social media, software process simulation and the efficient use of empirical data and their effects on software-management practices. This book will attract readers from both academia and practice with its excellent balance between new findings and experience of their usage in new contexts. Whenever appropriate, the presentation is based on evidence from empirical evaluation of the proposed approaches. For researchers and graduate students, it presents some of the latest methods and techniques to accommodate new challenges facing the discipline. For professionals, it serves as a source of inspiration for refining their project-management skills in new areas.
Author | : Martin Loosemore |
Publisher | : Taylor & Francis |
Total Pages | : 288 |
Release | : 2012-09-10 |
Genre | : Architecture |
ISBN | : 1134509227 |
Project managers in construction and civil engineering need to base their decisions on realistic information about risk and public perceptions of risk. This second edition of the original practical and straightforward text retains the easy-to-read format, but has been expanded to encompass the entire risk management process and to give a fuller presentation of how risk is generally perceived. Two new chapters cover risk identification and risk response, and the chapters on risk analysis have been completely reorganized. There is also greater emphasis on the theory behind the principles, and an expanded bibliography is given to guide an exploration of the subject in greater detail. The book demystifies risk management by presenting the subject in simple and practical terms, free of technical jargon, and case studies are used extensively to enliven the text and to illustrate the concepts discussed.
Author | : Agnar Johansen |
Publisher | : Routledge |
Total Pages | : 134 |
Release | : 2019-03-29 |
Genre | : Business & Economics |
ISBN | : 0429773404 |
Effective risk and opportunity management is key to the successful delivery of any major engineering and construction project. This book looks at how all those involved can manage risk and capitalise on the opportunities that uncertainty present. The authors of this book highlight that uncertainties should be managed rather than avoided. This book will look at simple projects with a small team, to megaprojects where some hundreds of people are involved, and the consequences of delays or unforeseen costs. However, while the obvious risks can be planned for, the authors argue that it is often the opportunities in these situations that can have unexploited potential. This book is about opportunity management seen from the owner’s perspective. It will be an invaluable resource for those studying Engineering both undergraduate and postgraduate and set out ways in which projects should be managed from planning to completion. This book is also a great tool for those working in project management and the construction industry. While there are many books that demonstrate effective construction management, this book is the first of its kind to emphasise that there is opportunity in uncertainty, and possibility in the unexpected.