Risk?
Submitted by ppalkonda1975 on Fri, 07/19/2013 - 02:49
You are the project manager in an IT consultancy firm which does projects for other companies. Based on your interaction with senior management of other companies, you classify your clients into categories like Risk Averse, Risk Neutral and Risk Seeking. You are using:
Choice 1 Risk Management Planning
Choice 2 Utility theory
Choice 3 Risk identification
Choice 4 Risk categorization
Forums:
vikula01
Fri, 07/19/2013 - 03:07
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choice 1
all are stake holder tolerance - which is a part of Risk management planning
ppalkonda1975
Fri, 07/19/2013 - 03:09
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It seems the answer is
It seems the answer is utility theory :( which is same as risk attitude..
any one else can you pleave give me your inputs?
vikula01
Fri, 07/19/2013 - 03:15
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I am not sure
Utility Theory :- An appropriate method for describing risk tolerance based on the various stakeholders' tolerances for risk. This method is depicted using three structures where the x-axis denotes the money at stake and the y-axis denotes utility, or the amount of satisfaction the person obtains from the payoff.
ppalkonda1975
Fri, 07/19/2013 - 03:43
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Utility theory endeavors to
Utility theory endeavors to formalize management’s attitude towards risk which means risk attitude and risk attitudes are related to reisk averse, Risk Neutral, etc
cnppmp1
Fri, 07/19/2013 - 03:33
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Risk Identification
Risk identification
Regards
CN Patil