Appraisal, Risk and Uncertainty

Appraisal, Risk and Uncertainty

Author: Nigel J. Smith

Publisher: Thomas Telford

Published: 2003-11-28

Total Pages: 156

ISBN-13: 9780727731852

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Projects need to achieve strategic goals and to that end must work in different levels of uncertainty. Engineers must be aware of methods to operate in ambiguous situations. This book offers one of the first integrated approaches to these three topics based on the views of experts in these disciplines.


Techniques for Project Appraisal Under Uncertainty

Techniques for Project Appraisal Under Uncertainty

Author: Shlomo Reutlinger

Publisher: Johns Hopkins University Press

Published: 1970

Total Pages: 116

ISBN-13:

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The appraisal of events that have uncertain outcomes is discussed with particular reference to a feasible method for evaluating the riskiness of investment projects. The essence of the uncertainty problem is that many of the variables affecting the outcome of a particular plan are outside of the planner's control. Uncertainty, which is relevant for most decisions, is best characterized in terms of a decision agent's subjective beliefs about probabilities. The probabilistic approach lends itself best to an appraisal of possible outcomes of a project that is affected by uncertainties from many sources. Probability judgments about many basic variables and parameters affecting the final outcome can be aggregated into an estimate of the probability distribution of that final outcome. This aggregation method is demonstrated for calculation of the economic returns of a project. The method of approximation by a simulated sample is described, and its application to probability distribution rates of returns from actual projects is explained. The preparation of a mathematical model is detailed, emphasizing the usefulness of computerized calculations. Fourteen tables and nine figures are provided.


Uncertainty in Risk Assessment, Risk Management, and Decision Making

Uncertainty in Risk Assessment, Risk Management, and Decision Making

Author: V.T. Covello

Publisher: Springer

Published: 1987-05-31

Total Pages: 0

ISBN-13: 9780306425578

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The subject of this volume--uncertainties in risk assessment and management--reflects an important theme in health, safety, and environ mental decision making. MOst technological hazards are characterized by substantial uncertainty. Recent examples include nuclear waste disposal, acid rain, asbestos in schools, carcinogens in food, and hazardous waste. realing with such uncertainty is arguably the most difficult and challeng ing task facing risk assessors and managers today. Four primary sources of uncertainty in risk assessment and management can be identified: (1) uncertainties about definitions; (2) uncertainties about scientific facts; (3) uncertainties about risk perceptions and atti tudes; and (4) uncertainties about values. Uncertainties about definitions derive primarily from disagreements about the meaning and interpretation of key concepts, such as probability. Uncertainties about scientific facts derive primarily from disagreements about failure modes, the probability and magnitude of adverse health or environmental consequences, cause and effect relationships, dose-response relationships, and exposure patterns. Uncertainties about risk perceptions and attitudes derive primarily from disagreements about what constitutes a significant or acceptable level of risk. Uncertainties about values derive primarily from disagreements about the desirability or worth of alternative risk management actions or conse quences. The papers in this volume address each of these sources of uncertainty from a variety of perspectives. Reflecting the broad scope of risk assess ment and risk management research, the papers include contributions from safety engineers, epidemiologists, toxicologists, chemists, biostatisticians, biologists, decision analysts, economists, psychologists, political scien tists, sociologists, ethicists, and lawyers.


Risk, Uncertainty and Decision-Making in Property

Risk, Uncertainty and Decision-Making in Property

Author: P. Byrne

Publisher: Routledge

Published: 2002-11-01

Total Pages: 176

ISBN-13: 1135821267

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Provides undergraduates in surveying and property professionals with a clear practical explanation of the various management techniques to improve their property development decisions.


Forecasting, Uncertainty, and Public Project Appraisal

Forecasting, Uncertainty, and Public Project Appraisal

Author: Jock R. Anderson

Publisher: World Bank Publications

Published: 1989

Total Pages: 61

ISBN-13:

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A measure of the probability of commodity price forecasts is not necessary for most project analysis, but it does give users a realistic view of the forecast's precision -- and imposes a useful discipline on the forecaster.