Classifying Risk Uncertainty for Decision Making

dc.contributor.author Port, Dan
dc.contributor.author Wilf, Joel
dc.date.accessioned 2019-01-03T00:59:56Z
dc.date.available 2019-01-03T00:59:56Z
dc.date.issued 2019-01-08
dc.description.abstract Studies of NASA mishaps often reveal a flawed decision-making process – one that underestimates risk. In this paper we turn our attention from the risk itself to uncertainty about the risk. In particular, we look at how decision-making accounts for uncertainties about a risk’s likelihood of occurring and the consequence if it does occur. We propose a simple way of classifying risks according to these uncertainties. Then we use this classification scheme to gain insight into the flawed decision-making that contributed to the Challenger disaster and other NASA mishaps as well. We show how our risk classification scheme can improve decision-making and help avoid mishaps in the future.
dc.format.extent 8 pages
dc.identifier.doi 10.24251/HICSS.2019.885
dc.identifier.isbn 978-0-9981331-2-6
dc.identifier.uri http://hdl.handle.net/10125/60173
dc.language.iso eng
dc.relation.ispartof Proceedings of the 52nd Hawaii International Conference on System Sciences
dc.rights Attribution-NonCommercial-NoDerivatives 4.0 International
dc.rights.uri https://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subject High-Stakes IS Risk and Decision-Making
dc.subject Software Technology
dc.subject risk analysis, risk classification, decision making, risk
dc.title Classifying Risk Uncertainty for Decision Making
dc.type Conference Paper
dc.type.dcmi Text
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