Case Study
Breaking Murphy’s Law: Project Risk Management
(The content of this paper is the opinion of Evin Stump, Sr. Systems Engineer at Galorath Incorporated) Quantification of risks, as opposed to mere ranking, is a somewhat controversial subject. Some people feel that certain sophisticated efforts at quantification go too far. And probably some do, especially as applied to smaller, less consequential projects. On the other hand, I firmly believe that some level of quantification is not only appropriate, but even necessary to clearly convey meaning, especially among team members in large projects. Of all of the symbols we deal with in life, numbers are the least ambiguous. I have tried in this book to use quantification in ways that are both reasonable and understandable.
