This paper discusses regrets analysis, a decision tool that is uniquely appropriate for
circumstances where it is necessary to spend conceivably large sums of
money to address a risk, but it is virtually impossible to quantify the risk. It focuses instead on what we do know and guides you in looking across all
possible decision choices and comparing them in terms of the cost of being
wrong. This paper presents an example of regrets analysis applied to a security
improvement decision regarding the protection of a chlorine tank from
possible sabotage. The analysis is developed in a spreadsheet and the
paper describes the input data required and the analytical steps
involved. Includes tables.
| Edition : | Vol. - No. |
| File Size : | 1
file
, 310 KB |
| Note : | This product is unavailable in Ukraine, Russia, Belarus |
| Number of Pages : | 11 |
| Published : | 04/10/2005 |
