Building upon the technical and organizational groundwork presented in the first edition Risk Assessment and Decision Making in Business and Industry: A Practical Guide Second Edition addresses the many aspects of risk/uncertainty (R/U) process implementation. This comprehensive volume covers four broad aspects of R/U: general concepts implementation processes technical aspects and examples of application. Each section provides practical guidance combining technical information with advice on how to implement R/U techniques and processes in real-world corporate environments. Following an examination of general principles involved in quantitatively assessing risks and their impact on value the book describes the two main probabilistic measures of project value - Expected Value of Success (EVS) and the Expected Value for the Portfolio (EVP). The text clearly demonstrates how these metrics are used in individual-project and portfolio management. By presenting concepts in layman's terms and fully integrating advice related to technical and human characteristics of R/U-related corporate life this book serves as a complete primer for professionals in any business environment. What's New in the Second Edition:Provides guidance for implementation of R/U processes in modern corporations Offers a crucial breakthrough by defining the terms risk and uncertainty in ways that can be applied in all aspects of science and business Explores real-world impediments to process change and implementation Addresses R/U from a corporate decision-maker's perspective detailing how to employ R/U to set budgets manage portfolios value investments and execute other critical tasks |Risk Assessment and Decision Making in Business and Industry A Practical Guide Second Edition | Mathematics
