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Authors: Peng Zhou and Hareton Leung

Affiliation: The Hong Kong Polytechnic University, Hong Kong

ISBN: 978-989-8425-55-3

Keyword(s): Risk prioritization, Risk metrics, Risk exposure, Risk intensity, Risk impact assessment, Risk management.

Related Ontology Subjects/Areas/Topics: Applications ; Enterprise Information Systems ; Information Systems Analysis and Specification ; Operational Research ; Project Management

Abstract: Quantitative risk analysis provides practitioners a deeper understanding of the risks in their projects. However, the existing methods for impact assessment are inaccurate and the metrics for risk prioritization also can not properly prioritize the risks for certain cases. In this paper, we propose a method for measuring risk impact by using AHP. We also propose a new indicator, risk intensity (RI), to prioritize the risks of a project. Compared with the widely used metric Risk Exposure (RE), the contours of RI show a convex pattern whereas the contours of RE show a concave pattern. RI allows practitioners weight probability and risk impact differently and can better satisfy the needs of risk prioritization. Through a case study, we found that RI could better prioritize the risks than RE.

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Paper citation in several formats:
Zhou, P. and Leung, H. (2011). A NEW METHOD AND METRIC FOR QUANTITATIVE RISK ANALYSIS.In Proceedings of the 13th International Conference on Enterprise Information Systems - Volume 4: ICEIS, ISBN 978-989-8425-55-3, pages 25-33. DOI: 10.5220/0003442200250033

@conference{iceis11,
author={Peng Zhou. and Hareton Leung.},
title={A NEW METHOD AND METRIC FOR QUANTITATIVE RISK ANALYSIS},
booktitle={Proceedings of the 13th International Conference on Enterprise Information Systems - Volume 4: ICEIS,},
year={2011},
pages={25-33},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0003442200250033},
isbn={978-989-8425-55-3},
}

TY - CONF

JO - Proceedings of the 13th International Conference on Enterprise Information Systems - Volume 4: ICEIS,
TI - A NEW METHOD AND METRIC FOR QUANTITATIVE RISK ANALYSIS
SN - 978-989-8425-55-3
AU - Zhou, P.
AU - Leung, H.
PY - 2011
SP - 25
EP - 33
DO - 10.5220/0003442200250033

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