Risk Analysis Process

Risk Analysis is the process of assessing an event probability or a probability distribution.

The term is sometimes used in place of decision analysis.  Many companies combine these as risk and decision analysis.  Decision analysis is the more-common term for this general problem-solving process.  In fact, there are often several risk analyses in a decision analysis.

Decision Analysis is the discipline that helps decision makers choose wisely under uncertainty.  Three features characterize the formal process:

Decision Precision

Training and assistance by John Schuyler, CAM CMA  CMC  CPIM PE  PMP, Aurora & Denver, Colorado, USA

Risk and Decision Analysis in Projects by John Schuyler, 2001, Project Management Institute

Copyright 1999-2012 by John R. Schuyler. All rights reserved.