Introducing Risk Management Plan
Abstract
Greg and Fred discuss why risk is becoming a personal issue to home owners and to all of us. They discuss aging infrastructure risk, who pays, and how to mitigate these risks.
Key Points
Join Greg and Fred as they discuss infrastructure risks of aging water, sewage, and power systems. Topics include:
- What are types of infrastructure risk.
- How do you get folks’ attention about risks.
- How to do ‘what if’ analysis.
Enjoy an episode of Speaking of Reliability. Where you can join friends as they discuss reliability topics. Join us as we discuss topics ranging from design for reliability techniques to field data analysis approaches.
SOR 994 Introducing Risk Management PlanGreg Hutchins
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Show Notes
A what-if analysis is a technique used to determine the potential outcomes based on varying conditions12345. It is used to see the impact of different scenarios, both positive and negative, on the outcomes. The primary purpose of a what-if analysis is to provide valuable insight to make more informed business decisions1. It is most commonly performed in conjunction with various scenarios5.
References:
https://support.microsoft.com/en-us/office/introduction-to-what-if-analysis-22bffa5f-e891-4acc-bf7a-e4645c446fb4
Hi Carl:
Good morning. Thank you for your thoughts and comment.
As an engineer, I’ve spend much of my career trying to understand compelx phenomena with partial differential equations etc. Very difficult.
Human behavior and the future are by their nature uncertain and unfathomable. ‘What if’ questions are a simple heuristic to understand and decipher. As I get older and hopefully a little wiser, the simpler solution or query works best.
Thanks for the reference as well.