TOPIC: DEFINING RISK ASSESSMENT CONFIDENCE LEVELS FOR USE IN PROJECT MANAGEMENT COMMUNICATIONS
Advisor: Dr. Julia Pet-Armacost
Committee Members:
Dr. Robert L. Armacost
Dr. Robert Hoekstra
Dr. Jeevan S. Perera
Dr. Charles Reilly
CONFIDENCE LEVEL DEFINITIONS:
Low Confidence Level: Risk assessment is based on subjective opinion or relative past experiences.
Medium Confidence Level: Risk assessment is based on similar conditions being observed previously and/or analysis. Analysis is based on unverified models and/or data.
High Confidence Level: Risk assessment is based on testing, high fidelity modeling or simulation, use of prototype or experiments. Analysis is based on verified models and/or data. Assessment is based on an historical basis.