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- W976403430 abstract "Risk matrices are used in many organizations as a basis for risk management decisions. They are easy-to-use and have intuitive appeal. They are often defended as the only avenue of approach to risk management because quantitative information is “scarce or nonexistent”. Unfortunately their theoretical basis is superficial and the validity of the qualitative information they employ is highly suspect. Assessments of the likelihood of occurrence and their impacts suffer all the shortcomings associated with subjective assessment. These all combine to produce a less than useful portayal of risk management information. The true value of subject matter experts (SME) is in aiding the devlopemnt of quantitative models representing the inter-relations between variables that ultimately determine the outcome of interest for the decision maker." @default.
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- W976403430 date "2011-01-01" @default.
- W976403430 modified "2023-09-22" @default.
- W976403430 title "The Trouble With Risk Matrices" @default.
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