Re: project risk analysis

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Majid
I totally understand what you mean, I was in a similar place on a risk
assessment - being thoroughly confused. I came across an interesting
and I think extremely
useful methodology a few days ago - at www.software.co.il

It is a practical way of assessing risk in legacy systems, but I think
it's applicable methodology to a number of different problem domains.

Will

Majid wrote:
I am interested in risk analysis of projects. I mean risk assessment
beside economic feasibility study. Surveying our library, I found
'Project Risk Management' Chapman (2004) and read it. It has a good
general perspective of risk management and gives a step-by-step
methodological approach. However it doesn't exactly give me a technical
view ie the statistical background to assess a project's risk.

Due to lack of experience in the field I am puzzled how to take the
path forward. I know that I should find the probability distribution of
a risky unwanted event but I know no other way than expert opinion or
just past experience on frequency of the event. It is mentioned that a
software armed with Monte Carlo method like @risk or MainOpt is useful
but I have no access to them.

Let's mention that my major is economics, MA and engineering mechanics
BS. I have recently studied project management and passed a course for
strategic management.

Thanks for the help

.

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