RISK ANALYSIS
Charles François (2004). RISK ANALYSIS, International Encyclopedia of Systems and Cybernetics, 2(2): 2884.
| Collection | International Encyclopedia of Systems and Cybernetics |
|---|---|
| Year | 2004 |
| Vol. (num.) | 2(2) |
| ID | ◀ 2884 ▶ |
| Object type | General information |
That part of the decision process that tries to evaluate the probabilities of negative outcomes of possible alternative courses to be taken.
Risk analysis is as necessary as it is difficult. Any decision introduces new conditions that modify the global situation in ways difficult to forecast.
Possible systemic tools for risk analysis are scenarios, complex cyclical models, systems dynamics, and even chaos theory. None however can give any absolute certainty.