Case Study

Case Study

Introduction

This paper intends to discuss the two phases of the case study provided in chapter thirteen. Basically, the paper will compare and contrast both the phases in order to make the reader aware about the basic similarities and differences in both the phases. The paper will identify the basic differences between the case studies in identifying and quantifying risks. Moreover, the risk assessments being easier in terms to follow will also be explored between the phases. The more compelling assessment of risk will also be identified. Finally, the differences and similarities between the cases will be identified and explored. The purpose of this paper is to make the reader aware about the significance of decision making process and the assessment of case studies.

Discussion

Identification of Risks

The identification of risks within the first phase is assumed to be more of a routine work. The structure made to identify the risks within first phase is extremely important and the risk factors are identified along with the risk likelihoods. This process certainly helps the observer to analyze each risk item in terms of its likelihood. Once again, it is important to realize that the process of identification of risks is extremely important and phase one tends to provide a deep routed analysis in order to identify the maximum risks. The outcomes of phase one clearly depicts the success of all the hard work and efforts put in the process of identification of risks (Hazel & Pritchard, 1997).

Quantification of Risks

The quantification of risk is again one of the most important tasks done in the process of risk assessment. I believe the quantification of risk assessment is done in more detail in the phase two. I believe I am correct in saying this as different vendors are asked for their opinions in relation ...