199:. These tools are applications of PRA and allow planners to explicitly address uncertainty by identifying and generating metrics, parameterizing, prioritizing, and developing responses, and tracking risk from components, tasks or costs. PRA, also called Likelihood-Consequence or Probability-Impact, is based upon single-point estimates of probability of occurrence, initiating event frequency, and recovery success (e.g., human intervention) of a specific consequence (e.g., cost or schedule delay).
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allow the uncertainty to be addressed by identifying and generating metrics, parameterizing, prioritizing, and developing responses, and tracking risk. These activities may be difficult to track without tools and techniques, documentation and information systems.
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There are two distinct types of risk tools identified by their approach: market-level tools using the
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of probability and impact of individual risks to make decisions between resource allocations.
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