Open Access. Powered by Scholars. Published by Universities.®
Operations Research, Systems Engineering and Industrial Engineering Commons™
Open Access. Powered by Scholars. Published by Universities.®
- Discipline
Articles 1 - 2 of 2
Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering
Performance Based Decisions Under Uncertainty And Risk, Sundeep Samson
Performance Based Decisions Under Uncertainty And Risk, Sundeep Samson
All Dissertations
Decision making has became increasingly complex as risky decisions are made in uncertain environments. To minimize risk, the problem of quantifying risk becomes very significant. In our review of the literature, we found a number of different risk measures. A closer study reveals that most of these risk measures define both risk and uncertainty in many different ways.
In this dissertation, we model uncertainty and risk based on the Knightian definition of uncertainty and risk. We propose this alternative modeling paradigm and introduce our decision making methodology by solving an illustrative problem presented by a group of decision makers from …
Defining Risk Assessment Confidence Levels For Use In Project Management Communications, Gary Johnson
Defining Risk Assessment Confidence Levels For Use In Project Management Communications, Gary Johnson
Electronic Theses and Dissertations
A review of the literature regarding risk management and effective risk communications identified that very few researchers have addressed risk assessment confidence levels when using risk scoring methods. The focus of this research is to develop a definition of risk assessment confidence levels for use in internal project management communications and to evaluate its usefulness. This research defines risk assessment confidence level as "The degree of certainty that the likelihood or consequence score (assigned by the risk assessor) reflects reality." A specific level of confidence is defined based on the types of analyses that were conducted to determine the risk …