The impact of sequential thinking in the risk management process

Hogg, Keith and Greenwood, David (2006) The impact of sequential thinking in the risk management process. In: ICiBE 2006, 13-15 June 2006, Kuala Lumpur.

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Abstract

The risk management process that occurs during development and construction activities can have a significant impact on project success. One important aspect of this process is the manner in which project risks are evaluated and the impact that heuristics may have upon the attendant decision making process. In this paper, previous research relating to belief updating mechanisms is reviewed and examined in the context of the risk management workshop to investigate the way in which the order of information presentation may influence the evaluation of identified risks. The paper conjectures that when groups and individuals are asked to evaluate the same sets of risks the outcomes will change when inconsistent information is presented in different order. The impact that this may have upon the risk management process is discussed.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: risk management
Subjects: N200 Management studies
Department: Faculties > Engineering and Environment > Architecture and Built Environment
Faculties > Engineering and Environment > Mechanical and Construction Engineering
Depositing User: EPrint Services
Date Deposited: 24 Aug 2010 08:37
Last Modified: 10 Aug 2015 11:29
URI: http://nrl.northumbria.ac.uk/id/eprint/1707

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