Risk Management Techniques allassignmenthelp.com

The paper prepares the decision tree and fault tree for the project described earlier on the construction of a residence. The decision tree and fault tree will support the exploration of the risk for the project. The decision tree created here will support the major risk related decision likely to be faced by the project. Moreover, the fault tree developed here will offer minimum listing of potential risks and impacts in the event of two smaller failures.
Decision tree are used to sequence various decision problems faced by any project at the time of uncertainty (Vesley et al, 1981). The decision tree developed in this paper will discuss the various decisions to be made.