PRIME VALUE METHOD TO PRIORITIZE RISK HANDLING STRATEGIES

PDF Version Also Available for Download.

Description

Funding for implementing risk handling strategies typically is allocated according to either the risk-averse approach (the worst risk first) or the cost-effective approach (the greatest risk reduction per implementation dollar first). This paper introduces a prime value approach in which risk handling strategies are prioritized according to how nearly they meet the goals of the organization that disburses funds for risk handling. The prime value approach factors in the importance of the project in which the risk has been identified, elements of both risk-averse and cost-effective approaches, and the time period in which the risk could happen. This paper also ... continued below

Creation Information

Noller, D October 31, 2007.

Context

This article is part of the collection entitled: Office of Scientific & Technical Information Technical Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. More information about this article can be viewed below.

Who

People and organizations associated with either the creation of this article or its content.

Author

Publisher

Provided By

UNT Libraries Government Documents Department

Serving as both a federal and a state depository library, the UNT Libraries Government Documents Department maintains millions of items in a variety of formats. The department is a member of the FDLP Content Partnerships Program and an Affiliated Archive of the National Archives.

Contact Us

What

Descriptive information to help identify this article. Follow the links below to find similar items on the Digital Library.

Description

Funding for implementing risk handling strategies typically is allocated according to either the risk-averse approach (the worst risk first) or the cost-effective approach (the greatest risk reduction per implementation dollar first). This paper introduces a prime value approach in which risk handling strategies are prioritized according to how nearly they meet the goals of the organization that disburses funds for risk handling. The prime value approach factors in the importance of the project in which the risk has been identified, elements of both risk-averse and cost-effective approaches, and the time period in which the risk could happen. This paper also presents a prioritizer spreadsheet, which employs weighted criteria to calculate a relative rank for the handling strategy of each risk evaluated.

Notes

available

Source

  • INCOSE Annual Meeting

Language

Item Type

Identifier

Unique identifying numbers for this article in the Digital Library or other systems.

  • Report No.: Y-ESR-G-00004
  • Grant Number: DE-AC09-96SR18500
  • Office of Scientific & Technical Information Report Number: 920378
  • Archival Resource Key: ark:/67531/metadc899478

Collections

This article is part of the following collection of related materials.

Office of Scientific & Technical Information Technical Reports

What responsibilities do I have when using this article?

When

Dates and time periods associated with this article.

Creation Date

  • October 31, 2007

Added to The UNT Digital Library

  • Sept. 27, 2016, 1:39 a.m.

Description Last Updated

  • Nov. 2, 2016, 1:02 p.m.

Usage Statistics

When was this article last used?

Congratulations! It looks like you are the first person to view this item online.

Interact With This Article

Here are some suggestions for what to do next.

Start Reading

PDF Version Also Available for Download.

Citations, Rights, Re-Use

Noller, D. PRIME VALUE METHOD TO PRIORITIZE RISK HANDLING STRATEGIES, article, October 31, 2007; [Aiken, South Carolina]. (digital.library.unt.edu/ark:/67531/metadc899478/: accessed September 24, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.