Technology Assessment

It depends on many factors external to the technology

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Unformatted text preview: e project!!!!! Costs and benefits that cannot be quantified should not be forgotten Discounted Benefits/Discounted Costs (this is the Benefit/Cost ratio) Net Present Value (NPV) Can be used to compare investments of different sizes Rate of Return: Derived from schedule of cost and benefits, it is the interest rate at which NPV = 0 Limits and Strengths of Cost/Benefit analysis: People’s attitude towards time is different People also value different things differently Risk: exposure to the possibility of unfortunate consequences (still at statistical level): Risk refers to statistical chance of a known danger Equity: who bears extra risk? Vulnerable populations Risk assessment vs. Risk management: Assessment: an objective assessment of the magnitude of a risk and of who will bear it (a technique/way of analyzing what you’re up against). Assumes that probabilities of damage are known, at least within a reasonable range. It is based on: Empirical analysis of the statistical relationship between exposure and effect when data are available Fault analysis in situations that haven’t happened yet Risk assessment is a predictive technique; precaution is an...
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This document was uploaded on 03/27/2014 for the course STIA 305 at Georgetown.

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