The two-dimensionality of project risk


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).

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Description/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.

Item Type: Article
Digital Object Identifier (DOI): doi:10.1016/0263-7863(96)00030-0
ISSNs: 0263-7863 (print)
Keywords: risk
Subjects:
ePrint ID: 36882
Date :
Date Event
1996Published
Date Deposited: 08 Mar 2007
Last Modified: 16 Apr 2017 22:04
Further Information:Google Scholar
URI: http://eprints.soton.ac.uk/id/eprint/36882

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