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probabilistic assignment 3.docx - Laneisha Jenkins Project...

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Laneisha JenkinsProject Risk ManagementAssignment 3According to preventionweb.net: Deterministic approaches are used to assess disaster impacts ofa given hazard scenario, whereas probabilistic methods are used to obtain more refined estimatesof hazard frequencies and damages. Probabilistic assessments are characterized by inherentuncertainties, partly related to the natural randomness of hazards, and partly because of ourincomplete understanding and measurement of the hazards, exposure and vulnerability underconsideration (OECD, 2012).The deterministic approach oftentreats the probability of an event as the main focus of thehazardous scenario. The deterministic approach models scenarios, where the input values areknown and the outcome is observed. The deterministic approach can be used to define worst and
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Term
Spring
Professor
N/A
Tags
Management, Project Management, Probabilistic Methods, Deterministic Approach

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