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| Teaching Since: | May 2017 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Figure 17–24 shows a probability-impact (or risk mapping) matrix that is frequently used as part of the risk analysis prioritization process. Here, ordinal probability-of-occurrence and consequence-of-occurrence risk scales are used (5, 4, 3, 2, 1 correspond to E, D, C, B, A since the actual scale coefficients are unknown). In this figure, L represents a low risk, which would generally be a risk acceptable to the project manager. The letter M represents a moderate risk, which will likely require a risk response. The letter H represents a high risk, which will need one or more risk responses. What are the advantages of using a high–moderate–low (or red– yellow–green) risk designation as opposed to assigning quantitative numbers to each cell and risk level (e.g., 5 × 5 25 to 1 × 1 = 1)?

----------- He-----------llo----------- Si-----------r/M-----------ada-----------m -----------Â ----------- Â ----------- Â----------- -----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------acq-----------uis-----------iti-----------on -----------of -----------my -----------pos-----------ted----------- so-----------lut-----------ion-----------. P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e