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The two-dimensionality of project risk

Record type: Article

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.

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Citation

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

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

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Date deposited: 08 Mar 2007
Last modified: 17 Jul 2017 15:43

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Author: T.M. Williams

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