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Developing a Taxonomy of Risk-Mitigating Actions From a Legacy Database of a Large Design Organization

[+] Author Affiliations
Chuck Hsiao, Michael Ruffino, Richard Malak

Texas A&M University, College Station, TX

Irem Y. Tumer, Toni Doolen

Oregon State University, Corvallis, OR

Paper No. DETC2012-70444, pp. 497-507; 11 pages
doi:10.1115/DETC2012-70444
From:
  • ASME 2012 International Design Engineering Technical Conferences and Computers and Information in Engineering Conference
  • Volume 2: 32nd Computers and Information in Engineering Conference, Parts A and B
  • Chicago, Illinois, USA, August 12–15, 2012
  • Conference Sponsors: Design Engineering Division, Computers and Information in Engineering Division
  • ISBN: 978-0-7918-4501-1
  • Copyright © 2012 by ASME

abstract

This paper presents a taxonomy for project-level risk-mitigating actions developed from a large design organization’s risk database. The taxonomy classifies actions according to their purpose and how they are embodied. The taxonomy along with the results of actions recorded in the database can be used to evaluate the effectiveness of different types of risk-mitigating actions. A methodology for refining the taxonomy based on analyzing mismatches between different coders using the taxonomy is also given. Because the taxonomy is based on an existing legacy database, this paper discusses related issues such as missing contextual information.

Developing this taxonomy will lead to further advances in empirically evaluating the usefulness of different risk-mitigating actions. This will allow for better understanding and improved prediction of how different types of risk-mitigating actions affect a project’s eventual outcomes such as cost and schedule, leading to future advances in decision-making approaches of risk-mitigating actions in complex environments.

Copyright © 2012 by ASME
Topics: Design , Databases , Risk

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