“Risk” is not just a qualitative label for plans that could go wrong. It is also a formal, mathematically defined term that helps project managers and investors calculate the expected value of a decision. Risk is the product of two factors: probability and cost. Probability, of course, is the likelihood that an event will happen, and cost is the pain you’ll suffer if it does. You can think of risk generally in terms of four quadrants:
The top-left corner is where the most interesting conversations occur.
Yes, the O-rings could lose their effectiveness in cold weather and jeopardize the vehicle, the crew, and the program. But the chances are slim, right?
Yes, a fan disk in the #2 engine could disintegrate and sever the hydraulic lines in the top of the fuselage, which would cause loss of control of the aircraft. But what are the chances of that happening?
Yes, our $5 million application could fail to support even twenty users in a classroom. But that would never happen, right?
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month, and much more.
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.
Julian F.
Head of Cybersecurity
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.
Addison B.
Field Engineer
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.
Amir M.
Data Platform Tech Lead
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.
O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.
