The University of Southampton
University of Southampton Institutional Repository

The two-dimensionality of project risk

The two-dimensionality of project risk
The two-dimensionality of project risk
The idea of multiplying the likelihood and the impact of risks is common. This Note discusses the point that the proper consideration of project risk requires consideration of both impact and likelihood. Calculating “expected” risk as probability times impact has limitations, and ranking risks according to this figure is misleading. Computerized “risk lists” thus ranked should not be relied upon.
risk
0263-7863
185-186
Williams, T.M.
fb409365-0027-4db3-b401-58a8c8992639
Williams, T.M.
fb409365-0027-4db3-b401-58a8c8992639

Williams, T.M. (1996) The two-dimensionality of project risk. International Journal of Project Management, 14 (3), 185-186. (doi:10.1016/0263-7863(96)00030-0).

Record type: Article

Abstract

The idea of multiplying the likelihood and the impact of risks is common. This Note discusses the point that the proper consideration of project risk requires consideration of both impact and likelihood. Calculating “expected” risk as probability times impact has limitations, and ranking risks according to this figure is misleading. Computerized “risk lists” thus ranked should not be relied upon.

This record has no associated files available for download.

More information

Published date: 1996
Keywords: risk

Identifiers

Local EPrints ID: 36882
URI: http://eprints.soton.ac.uk/id/eprint/36882
ISSN: 0263-7863
PURE UUID: aea4aabc-d589-4840-b972-1fe45ddfea5f

Catalogue record

Date deposited: 08 Mar 2007
Last modified: 15 Mar 2024 07:57

Export record

Altmetrics

Contributors

Author: T.M. Williams

Download statistics

Downloads from ePrints over the past year. Other digital versions may also be available to download e.g. from the publisher's website.

View more statistics

Atom RSS 1.0 RSS 2.0

Contact ePrints Soton: eprints@soton.ac.uk

ePrints Soton supports OAI 2.0 with a base URL of http://eprints.soton.ac.uk/cgi/oai2

This repository has been built using EPrints software, developed at the University of Southampton, but available to everyone to use.

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.

×