Explore BrainMass

Explore BrainMass

    Purpose of analyzing the risk of a decision

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    What is the purpose of analyzing the risk of a decision? What are some methods you can use to measure the outcome of your decision?

    Please use real explanation not just cut references please. Thanks and also if you want to use personal experiences that too will be fine.

    © BrainMass Inc. brainmass.com November 30, 2021, 2:36 am ad1c9bdddf

    Solution Preview

    It is extremely important to analyze the risk of a decision to assess the potential impact of such risks in the future, as well as to develop and prioritize appropriate risk mitigation and risk avoidance strategies for each of the identified risks. Risk analysis allows an organization to identify root causes of each risk, nature and extent of such risk in the event of occurrence of such risk, helps in ranking the probability of occurrence of each risk and help in develop appropriate risk management strategies to minimize the chances of occurrence or potential negative impact of each risk.

    One can use a wide range of qualitative and ...

    Solution Summary

    The purpose of analyzing the risk of a decision are determined. References are provided.