Dealing with Risk
Kim R. Fowler, IEEE Fellow, Consultant
Risk is the potential to stray outside the defined cost, schedule, performance, or safety constraints. Every project is risky to some degree but risk can be managed. The chapter follows this format:
• First, identify the various risks and analyze them.
• Then control risks by reducing, constraining, or transferring them.
• Assess the state of the risks by analyzing them again.
• Repeat this cycle throughout the project’s development.
Keywords
Risk; hazard; failure; error; accident; incident; safety; contingency planning; configuration management; RHA; margin analysis
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