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1 page/≈275 words
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APA
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Literature & Language
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English (U.S.)
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Estimating the Risk Event Value/Impact (Essay Sample)

Instructions:
The risk event value/impact is an estimate of the gain or loss that will be incurred if the risk event should take place. This value will apply to all elements of the project including budget, scope, quality and schedule. To assess the consequences and severity of the risk events, the amount at stake and the criticality of each must be determined. Note that these two variables may vary with time depending on the stage in the project life cycle. In most cases, the amount at stake and criticality can be derived by a simple examination of the available data and some subjective judgment. In complex situations however, it may be necessary to develop some form of mathematical model and to construct and run a series of computer-generated analyses. After identifying risks, the project manager will create a \\\"Risk Register\\\" that will be appended to the project management plan. The Risk Register will contain the following information: -List of identified risks -List of potential responses -Root causes of the risks -Updated risk categories During the qualitative phase of risk analysis, the Risk Register will also include the following information: -Priority list of project risks -Risks grouped by category -Risks requiring near-term responses -Risks that need more analysis -Watch list for low priority risks -Trends in qualitative analysis risk source..
Content:

Estimating the Risk Event Value/Impact
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Estimating the Risk Event Value/Impact
The extreme notion of price movements in assets is currently implicit in the practice of management. The adequacy of capital assumes a threshold classifying observable changes in the business risk factor either as ordinary or extreme. At first a probability that will be able to measure the extent that an event will influence a particular portfolio must be chosen. In addition, this probability has to determine the proper threshold of the risk (Fonkych, Taylor, & Rand Corporation.2005).
This underlying approach is the limit centre of the theorem, which produces a normal asymptotic distribution for the risk factor being considered. It is easy to get an asymptotic distribution for risk factor values possible. This paper uses extreme distribution model to calculate risk value and produce some remarkable results. The sample information illustrates that the theory of extreme distribution performs remarkably well to capture the extent of extreme events and the rate of occurrence in the financial market. In fact, the theory of statistics of extreme looks more natural and ...
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