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Understanding Pre-Quantitative Risk in ProjectsStandard approaches to risk management in projects depend on the ability of teams to identify risks and quantify the probabilities and consequences of these risks (e.g., the 5 x 5 risk matrix). However, long before quantification does - or even can - occur, and long after, teams make decisions based on their pre-quantitative understanding of risk. These decisions can have long-lasting impacts on the project. While significant research has looked at the process of how to quantify risk, our understanding of how teams conceive of and manage pre-quantitative risk is lacking. This paper introduces the concept of pre-quantitative risk and discusses the implications of addressing pre-quantitative risk in projects.
Document ID
20120009805
Document Type
Conference Paper
External Source(s)
Authors
Cooper, Lynne P. (Jet Propulsion Lab., California Inst. of Tech. Pasadena, CA, United States)
Date Acquired
August 25, 2013
Publication Date
April 15, 2011
Subject Category
Administration and Management
Meeting Information
INCOSE Conference on Systems Engineering Research(Redondo Beach, CA)
Funding Number(s)
CONTRACT_GRANT: NSF DMI-9996081
Distribution Limits
Public
Copyright
Other
Keywords
risk levels.
pre-quatitative risk
projects