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Risk Analysis (business)
Risk analysis is a technique used to identify and assess factors that may jeopardize the success of a project or achieving a goal. This technique also helps to define preventive measures to reduce the probability of these factors from occurring and identify countermeasures to successfully deal with these constraints when they develop to avert possible negative effects on the competitiveness of the company. One of the more popular methods to perform a risk analysis in the computer field is called facilitated risk analysis process (FRAP). Facilitated risk analysis process FRAP analyzes one system, application or segment of business processes at a time. FRAP assumes that additional efforts to develop precisely quantified risks are not cost-effective because: * such estimates are time-consuming * risk documentation becomes too voluminous for practical use * specific loss estimates are generally not needed to determine if controls are needed. * without assumptions there is little ris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Project
A project is any undertaking, carried out individually or collaboratively and possibly involving research or design, that is carefully planned to achieve a particular goal. An alternative view sees a project managerially as a sequence of events: a "set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations". A project may be a temporary (rather than a permanent) social system ( work system), possibly staffed by teams (within or across organizations) to accomplish particular tasks under time constraints. A project may form a part of wider programme management or function as an ''ad hoc'' system. Note that open-source software "projects" or artists' musical "projects" (for example) may lack defined team-membership, precise planning and/or time-limited durations. Overview The word ''project'' comes from the Latin word ''projectum'' from the Latin verb ''proicere'', "before an action," which in turn comes from ''pro-'', whic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. The international standard definition of risk for common understanding in different applications is “effect of uncertainty on objectives”. The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas ( business, economics, environment, finance, information technology, health, insurance, safety, security etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000, provides principles and generic guidelines on managing risks faced by organizations. Def ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Management
Investment management is the professional asset management of various securities, including shareholdings, bonds, and other assets, such as real estate, to meet specified investment goals for the benefit of investors. Investors may be institutions, such as insurance companies, pension funds, corporations, charities, educational establishments, or private investors, either directly via investment contracts or, more commonly, via collective investment schemes like mutual funds, exchange-traded funds, or REITs. The term asset management is often used to refer to the management of investment funds, while the more generic term fund management may refer to all forms of institutional investment, as well as investment management for private investors. Investment managers who specialize in ''advisory'' or ''discretionary'' management on behalf of (normally wealthy) private investors may often refer to their services as money management or portfolio management within the context o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benefit Risk
When the actual benefits of a venture are less than the projected or estimated benefits, the result is known as a benefit shortfall. If, for instance, a company is launching a new product or service and projected sales are 40 million dollars per year, whereas actual annual sales turn out to be only 30 million dollars, then the benefit shortfall is said to be 25 percent. Sometimes the terms "demand shortfall" or "revenue shortfall" are used instead of benefit shortfall. Public and private enterprises alike fall victim to benefit shortfalls. Prudent planning of new ventures will include the risk of benefit shortfalls in risk assessment and risk management. The discipline of benefits realisation management seeks to identify any benefits shortfall as early as possible in a project or programmes delivery in order to allow corrective action to be taken, costs to be controlled and benefits realised. See also *Cost overrun * Cost-benefit analysis *Downside risk *Efficient contract t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Optimism Bias
Optimism bias (or the optimistic bias) is a cognitive bias that causes someone to believe that they themselves are less likely to experience a negative event. It is also known as unrealistic optimism or comparative optimism. Optimism bias is common and transcends gender, ethnicity, nationality, and age.O’Sullivan, Owen P. (2015)The neural basis of always looking on the bright side.''Dialogues in Philosophy, Mental and Neuro Sciences'', 8(1):11–15. Optimistic biases are even reported in non-human animals such as rats and birds. However, autistic people are less susceptible to optimistic biases. Four factors can cause a person to be optimistically biased: their desired end state, their cognitive mechanisms, the information they have about themselves versus others, and overall mood. The optimistic bias is seen in a number of situations. For example: people believing that they are less at risk of being a crime victim, smokers believing that they are less likely to contract lung can ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reference Class Forecasting
Reference class forecasting or comparison class forecasting is a method of predicting the future by looking at similar past situations and their outcomes. The theories behind reference class forecasting were developed by Daniel Kahneman and Amos Tversky. The theoretical work helped Kahneman win the Nobel Prize in Economics. Reference class forecasting is so named as it predicts the outcome of a planned action based on actual outcomes in a reference class of similar actions to that being forecast. Discussion of which reference class to use when forecasting a given situation is known as the reference class problem. Overview Kahneman and Tversky Decision Research Technical Report PTR-1042-77-6. In found that human judgment is generally optimistic due to overconfidence and insufficient consideration of distributional information about outcomes. People tend to underestimate the costs, completion times, and risks of planned actions, whereas they tend to overestimate the benefits ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Extreme Risk
Extreme risks are risks of very bad outcomes or "high consequence", but of low probability. They include the risks of terrorist attack, biosecurity risks such as the invasion of pests, and extreme natural disasters such as major earthquakes. Introduction The estimation of the probability of extreme events is difficult because of the lack of data: they are events that have not yet happened or have happened only very rarely, so relevant data are scarce. Thus standard statistical methods are generally inapplicable. Extreme value theory If there is some relevant data, the probability of events at or beyond the range of the data may be estimated by the statistical methods of extreme value theory, developed for such purposes as predicting 100-year floods from a limited range of data of past floods. In such cases a mathematical function may be fitted to the data and extrapolated beyond the range of the data to estimate the probability of extreme events. The results need to be treated ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peren–Clement Index
The Peren–Clement index is a method of country-specific risk analysis for businesses engaged in international trade and direct investment. This instrument provides a guideline when deciding which foreign markets offer the possibility of additional business engagement and investment and the extent of an existing engagement or investment can be increased or should be reduced. The Peren-Clement index can be used as an early detection system, which evaluates probabilities and risks of an investment in a certain foreign market, which are determined by the political situation, its social, economical and judicial environment as well as its predictable or anticipated future developments of that country. Users These kind of analyses are conducted amongst other things by international rating agencies, export credit insurances and international organisations. In many cases the analysed countries are brought into a country rating. Methods The aim is the classification of countries in an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
External Links
An internal link is a type of hyperlink on a web page to another page or resource, such as an image or document, on the same website or domain. Hyperlinks are considered either "external" or "internal" depending on their target or destination. Generally, a link to a page outside the same domain or website is considered external, whereas one that points at another section of the same web page or to another page of the same website or domain is considered internal. These definitions become clouded, however, when the same organization operates multiple domains functioning as a single web experience, e.g. when a secure commerce website is used for purchasing things displayed on a non-secure website. In these cases, links that are "external" by the above definition can conceivably be classified as "internal" for some purposes. Ultimately, an internal link points to a web page or resource in the same root directory. Similarly, seemingly "internal" links are in fact "external" for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Spam
Spam may refer to: * Spam (food), a canned pork meat product * Spamming, unsolicited or undesired electronic messages ** Email spam, unsolicited, undesired, or illegal email messages ** Messaging spam, spam targeting users of instant messaging (IM) services, SMS or private messages within websites Art and entertainment * Spam (gaming), the repetition of an in-game action * "Spam" (Monty Python), a comedy sketch * "Spam", a song on the album ''It Means Everything'' (1997), by Save Ferris * "Spam", a song by "Weird Al" Yankovic on the album ''UHF – Original Motion Picture Soundtrack and Other Stuff'' * Spam Museum, a museum in Austin, Minnesota, US dedicated to the canned pork meat product Other uses * Smooth-particle applied mechanics, the use of smoothed-particle hydrodynamics Smoothed-particle hydrodynamics (SPH) is a computational method used for simulating the mechanics of continuum media, such as solid mechanics and fluid flows. It was developed by Gingold and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
