Risk Mitigation – What’s Your Score?

Philip Crosby
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Philip Crosby: Curtin Institute of Radio Astronomy, Curtin University Perth Western Australia, Australia

Engineering Technology Open Access Journal, 2018, vol. 1, issue 1, 1-2

Abstract: This article examines conventional methods for risk identification and risk scoring using ‘look-up’ tables, and concludes that such methods are inherently flawed and offer false confidence in project management. The author suggests a series of searching questions to test the efficacy of traditional risk assessment in order to better prepare the project for review. Important further considerations are posed in relation to nonspecific, irrational risk exposure (i.e. Black Swans), and the author presents two approaches for improved preparedness against undefined risk.

Keywords: Engineering Technology Open Access Journal; juniper publishers Open Access Journal; Open Access Journals in Engineering Technology; engineering technology articles; engineering journals list; engineering academic journals; juniper publishers reivew (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:adp:jetoaj:v:1:y:2018:i:1:p:1-2

DOI: 10.19080/CTCMI.2016.01.555551

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