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https://sic.ici.ro/wp-content/uploads/2011/09/SIC_2011-3-Art2.pdf
paper is to develop a risk management framework and a generic model that can be used to support making and planning pre-active, reactive or proactive decisions. Pre-active decisions: these decisions consist in doing things to prepare the entity under consideration to face potential adverse events (one knows that such events will occur soon or later). Actions such as transferring risk by
https://www.mindtools.com/pages/article/newTMC_07.htm
Whatever your role, it's likely that you'll need to make a decision that involves an element of risk at some point. Risk is made up of two parts: the probability of something going wrong, and the negative consequences if it does. Risk can be hard to spot, however, let alone prepare for and manage.
https://link.springer.com/chapter/10.1007%2F978-3-642-25755-1_1
Abstract. Organizational decision making often occurs in the face of uncertainty about whether a decision maker’s choices will lead to benefit or disaster. Risk is the potential that a decision will lead to a loss or an undesirable outcome. In fact, almost any human decision carries some risk, but some decisions are much more risky than others.Cited by: 2
http://broadleaf.com.au/work/risk-modelling-to-support-commercial-decisions/
Sep 08, 2015 · If models are simple and realistic, managers can use them to test what their intuition and experience tells them. Quantitative models can never replace human decision making, but if they are constructed carefully they can provide valuable support and insights to help managers add value to their businesses.
http://www.eolss.net/Sample-Chapters/C15/E1-28-05-03.pdf
SYSTEMS ENGINEERING AND MANAGEMENT FOR SUSTAINABLE DEVELOPMENT - Vol. II - Risk Management and Risk-Based Decision-Making - Haimes, Yacov Y. ©Encyclopedia of Life Support Systems (EOLSS) overwhelming number of subsystems and interacting components, it is natural to tend to aggregation and to reductionist modeling tools.
https://bizfluent.com/about-5438007-risk-management-decision-making.html
The key aspect of making the right business decisions comes from determining the balance between risk and reward. Companies that expose themselves to high risks with minimal rewards can gamble themselves right out of business. At the other extreme, firms that …
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