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Performing a risk assessment: The planning committee prepares a risk analysis and a business impact analysis (BIA) that includes a range of possible disasters. Each functional area of the organization is analyzed to determine potential consequences. Traditionally, fire has posed the greatest threat.
In archaeology, lithic analysis is the analysis of stone tools and other chipped stone artifacts using basic scientific techniques. At its most basic level, lithic analyses involve an analysis of the artifact's morphology, the measurement of various physical attributes, and examining other visible features (such as noting the presence or absence of cortex, for example).
Critical path drag is a project management metric used to schedule analysis and compression in the critical path method of scheduling. Drag cost is the reduction in the expected return on investment for a project due to an activity's or constraint's critical path drag. It is often used to justify additional resources that cost less than the ...
Risk management tools help address uncertainty by identifying risks, generating metrics, setting parameters, prioritizing issues, developing responses, and tracking risks. [1] Without the use of these tools, techniques, documentation, and information systems, it can be challenging to effectively monitor these activities.
Hazus is a geographic information system-based natural hazard analysis tool developed and freely distributed by the Federal Emergency Management Agency (FEMA). In 1997 FEMA released its first edition of a commercial off-the-shelf loss and risk assessment software package built on GIS technology. This product was termed HAZUS97.
Monte Carlo simulation allows the business risk analyst to incorporate the total effects of uncertainty in variables like sales volume, commodity and labor prices, interest and exchange rates, as well as the effect of distinct risk events like the cancellation of a contract or the change of a tax law.
Business continuity planning life cycle. Business continuity may be defined as "the capability of an organization to continue the delivery of products or services at pre-defined acceptable levels following a disruptive incident", [1] and business continuity planning [2] [3] (or business continuity and resiliency planning) is the process of creating systems of prevention and recovery to deal ...
Risk analysis is the process of identifying and assessing risks that may jeopardize an organization's success. It typically fits into a larger risk management framework. Diligent risk analysis helps construct preventive measures to reduce the probability of incidents from occurring, as well as counter-measures to address incidents as they ...
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