Risk Assessment and Decision Making in Business and Industry: A Practical Guide, Second Edition

Glenn Koller

March 30, 2005 by Chapman and Hall/CRC
Reference - 350 Pages - 168 B/W Illustrations
ISBN 9781584884774 - CAT# C4770


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  • Addresses the technical, organizational, cultural, political, and human aspects of R/U-based processes
  • Describes two crucial measures, EVS and EVP, and clearly delineates and demonstrates how they are employed in individual-project and portfolio management
  • Considers the practical problems faced by decision-makers, including the estimation of the impact of new information, deciding the questions to ask to determine information quality, and determining the new techniques to integrate into a decision-making scheme
  • Summary

    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