Why is a risk decision tree important? When is a list not the most effective manner to map out risk?
Fault tree analyses represent the logical combinations of a system and highlight possible causes for an event, whereas event tree analyses describe the possible range and sequences of outcomes that result from an event's initiation. According to the experts "The structure of the risk management processes in an organization is usually multi-leveled." Direction for the organization and best practice vision and policy, normally take place at the highest level.
"Checklists provide an ...
This excerpt explains why decision and fault trees are important to projects and when a list is not the most effective manner for creating a risk management plan.