How to quantify risk

Quantify risk when making a major business decision with IT infrastructure and applications. A business leader needs to have good data regarding risk factors before making a critical decision. In this classroom exercise, students will consider how risk factors for each component of an IT system contribute to the final decision. Taking examples from micromorts and microlives and applying them to likely failure events, students gain the experience of insight into making difficult decisions with imprecise data.

Index
0:00 Introduction
0:40 What is a micromort?
3:00 How much more risky is traveling by motorcycle than a car?
5:50 What risks can happen to a business operation?
7:40 Business risk analysis problem