Epistemic Uncertainty Creates Reducible Risk
Herding Cats
FEBRUARY 13, 2018
Yesterday's Post What Is Risk? was a response to a tweeter post conjecturing . Risk is not there to be mitigated, it's there to be eliminated. This, of course, is not factually true. Risk is the result of uncertainty, which comes in two kinds for all projects, for everything actually. Aleatory uncertainty, from the naturally occurring variances in the process and Epistemic uncertainty from the probabilistic event-based processes that impact the project.
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