5 Analyze Risk

Knowing our risks provides opportunities to manage and improve our chances of success.

—Roger VanScoy

The techniques of risk analysis are powerful tools to help people manage uncertainty. You can use risk analysis to make and obtain support for your decisions. Using automated tools for risk analysis, you can store, organize, and process data into meaningful knowledge. Any risky situation, from business to science and engineering, can be modeled. Risk analysis tools incorporate uncertainty in your estimates to generate results that show all possible outcomes. The result is a more intelligent decision.

In this chapter, I discuss the process definition steps for analyzing risk. I describe the risk analysis process, which defines ...

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