All entries for Thursday 15 March 2012

March 15, 2012

Risk analysis & Decision making

risk1Working on my pma and exploring the decision making tools, I'm becoming more aware that many of the decisions that companies are facing are full of risks and uncertainty. In other words, either it is about programmed or not decisions, the uncertainty may always be prevalent resulting in different kinds of risks.

That is one more reason why probably companies use the decision tools. Not only to make a robust decision, but also to take the risks into consideration and see the potential outcome. I think that in our in-module work, although the risk was there as a variable (market conditions, development of successful prototype, etc.) in the decision process, we didn't pay that much attention to it. However, in real life, the uncertainty and the risks associated with it need always to be considered carefully.


March 2012

Mo Tu We Th Fr Sa Su
Feb |  Today  | Apr
         1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31   

Search this blog

Tags

Galleries

Most recent comments

  • An interesting question, but do you really think that people really do a good job in general of unde… by Oritseweyinmi Barber on this entry
  • That's also the first time I hear about that. To create business excellence, innovative and creative… by Sophie Bellone on this entry
  • good point that got me really thinking Ilektra! I think like say for example, may be Waverider shoul… by Pinthida Thanatipanont on this entry
  • Thank you for your interest! As a matter of fact it went very well, and I am in the first phase of t… by Ilektra-maria Kaldi on this entry
  • Hi Ilektra–Maria – I'm glad that the values matrix helped you to think about which jobs you might en… by Anna Preston on this entry

Blog archive

Loading…
Not signed in
Sign in

Powered by BlogBuilder
© MMXX