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- W2767685727 abstract "Risk analysis is customizable, if the required elements exist. It is thorough and covers the entire enterprise. Here, it is possible to show an example of a risk analysis customized using Monte Carlo simulations when assigning values to the likelihood and impact ratings for given risks. Risk analysis is part art, part science. The art to risk analysis is to achieve results that reflect the true state of the environment. Qualitative risk assessments can suffer if careful thought is not given to assigning likelihood and impact values, yet it is not possible to be 100% quantitative. Evidence must be interpreted by the person doing the analysis. Monte Carlo simulations allow the risk practitioner to use his or her judgment to determine a range of possible values, agree on a likely value, and use a simulation to assign likelihood and impact values." @default.
- W2767685727 created "2017-11-17" @default.
- W2767685727 creator A5057750276 @default.
- W2767685727 date "2017-01-01" @default.
- W2767685727 modified "2023-09-25" @default.
- W2767685727 title "Customizing the Risk Analysis" @default.
- W2767685727 doi "https://doi.org/10.1007/978-1-4842-3060-2_17" @default.
- W2767685727 hasPublicationYear "2017" @default.
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