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Worst-case Scenario
A worst-case scenario is a concept in risk management wherein the planner, in planning for potential disasters, considers the most severe possible outcome that can reasonably be projected to occur in a given situation. Conceiving of worst-case scenarios is a common form of strategic planning, specifically scenario planning, to prepare for and minimize contingencies that could result in accidents, quality problems, or other issues. Development and use The worst-case scenario is " e of the most commonly used alternative scenarios".Charles Yoe, ''Principles of Risk Analysis: Decision Making Under Uncertainty'' (2011), p. 429-30. A risk manager may request "a conservative risk estimate representing a worst-case scenario" in order to determine the latitude they may exercise in planning steps to reduce risks.Nicholas P. Cheremisinoff, ''Environmental Technologies Handbook'' (2005), page 73-74. Generally, a worst-case scenario "is settled upon by agreeing that a given worst case is bad e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Worst Case Scenario 131210-M-QH615-002
The Worst or Worst may refer to: * John H. Worst (1850–1945), Lieutenant Governor of North Dakota * ''Worst'' (manga), a 2002 Japanese delinquent manga series by Hiroshi Takahashi * "The Worst" (''The Amazing World of Gumball''), a television episode * "The Worst" (Onyx and Wu-Tang Clan song), 1998 * "The Worst" (Jhené Aiko song), 2014 * ''The Worst'', a 1997 album by Sarcófago, or its title track * ''The Worst'', a 2000 album by Tech N9ne, or its title track * ''The Worst'', a 2004 EP by Lower Class Brats, or its title track * "Worst (I Assume)", a song by JoJo from her 2021 album ''Trying Not to Think About It'' * "The Worst", a song by the Rolling Stones from the album '' Voodoo Lounge'', 1994 See also * Worster (surname) * * * * Worst-case scenario (other) * Worse (other) Worse may refer to: * Worse Creek, Chattooga River, Georgia, USA; a creek * Worse set, in mathematics See also * * The Worst (other) * Worser (disambiguati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Management
Risk management is the identification, evaluation, and prioritization of risks, followed by the minimization, monitoring, and control of the impact or probability of those risks occurring. Risks can come from various sources (i.e, Threat (security), threats) including uncertainty in Market environment, international markets, political instability, dangers of project failures (at any phase in design, development, production, or sustaining of life-cycles), legal liabilities, credit risk, accidents, Natural disaster, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root cause analysis, root-cause. Retail traders also apply risk management by using fixed percentage position sizing and risk-to-reward frameworks to avoid large drawdowns and support consistent decision-making under pressure. There are two types of events viz. Risks and Opportunities. Negative events can be classified as risks while positive events are classifi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Disaster
A disaster is an event that causes serious harm to people, buildings, economies, or the environment, and the affected community cannot handle it alone. '' Natural disasters'' like avalanches, floods, earthquakes, and wildfires are caused by natural hazards. ''Human-made disasters'' like oil spills, terrorist attacks and power outages are caused by people. Nowadays, it is hard to separate natural and human-made disasters because human actions can make natural disasters worse. Climate change also affects how often disasters due to extreme weather hazards happen. Disasters usually hit people in developing countries harder than people in wealthy countries. Over 95% of deaths from disasters happen in low-income countries, and those countries lose a lot more money compared to richer countries. For example, the damage from natural disasters is 20 times greater in developing countries than in industrialized countries. This is because low-income countries often do not have well-bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Planning
Strategic planning is the activity undertaken by an organization through which it seeks to define its future direction and makes decisions such as resource allocation aimed at achieving its intended goals. "Strategy" has many definitions, but it generally involves setting major goals, determining actions to achieve these goals, setting a timeline, and mobilizing resources to execute the actions. A strategy describes how the ends (goals) will be achieved by the means (resources) in a given span of time. Often, Strategic planning is long term and organizational action steps are established from two to five years in the future. Strategy can be planned ("intended") or can be observed as a pattern of activity ("emergent") as the organization adapts to its environment or competes in the market. The senior leadership of an organization is generally tasked with determining strategy. It is executed by strategic planners or strategists, who involve many parties and research sources in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scenario Planning
Scenario planning, scenario thinking, scenario analysis, scenario prediction and the scenario method all describe a strategic planning method that some organizations use to make flexible long-term plans. It is in large part an adaptation and generalization of classic methods used by military intelligence. In the most common application of the method, analysts generate simulation games for policy makers. The method combines known facts, such as demographics, geography and mineral reserves, with military, political, and industrial information, and key driving forces identified by considering social, technical, economic, environmental, and political ("STEEP") trends. In business applications, the emphasis on understanding the behavior of opponents has been reduced while more attention is now paid to changes in the natural environment. At Royal Dutch Shell for example, scenario planning has been described as changing mindsets about the exogenous part of the world prior to formu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accident
An accident is an unintended, normally unwanted event that was not deliberately caused by humans. The term ''accident'' implies that the event may have been caused by Risk assessment, unrecognized or unaddressed risks. Many researchers, insurers and attorneys who specialize in unintentional Injury in humans, injury prefer to avoid using the term ''accident'', and focus on conditions that increase risk of severe injury or that reduce injury incidence and severity. For example, when a tree falls down during a wind storm, its fall may not have been directly caused by human error, but the tree's type, size, health, location, or improper maintenance may have contributed to the result. Most car crashes are the result of dangerous behavior and not purely ''accidents''; however, English speakers started using that word in the mid-20th century as a result of media manipulation by the US automobile industry. Accidental deaths were much less frequent before high-powered machinery began to sp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quality Assurance
Quality assurance (QA) is the term used in both manufacturing and service industries to describe the systematic efforts taken to assure that the product(s) delivered to customer(s) meet with the contractual and other agreed upon performance, design, reliability, and maintainability expectations of that customer. The core purpose of Quality Assurance is to prevent mistakes and defects in the development and production of both manufactured products, such as automobiles and shoes, and delivered services, such as automotive repair and athletic shoe design. Assuring quality and therefore avoiding problems and delays when delivering products or services to customers is what ISO 9000 defines as that "part of quality management focused on providing confidence that quality requirements will be fulfilled". This defect prevention aspect of quality assurance differs from the defect detection aspect of quality control and has been referred to as a ''shift left'' since it focuses on quality effor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Risk Manager
In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environment), often focusing on negative, undesirable consequences. Many different definitions have been proposed. One international standard definition of risk is the "effect of uncertainty on objectives". The understanding of risk, the methods of assessment and management, the descriptions of risk and even the definitions of risk differ in different practice areas (business, economics, environment, finance, information technology, health, insurance, safety, security, privacy, etc). This article provides links to more detailed articles on these areas. The international standard for risk management, ISO 31000, provides principles and general guidelines on managing risks faced by organizations. Definitions of risk Oxford English Dictionary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Engineering
Environmental engineering is a professional engineering Academic discipline, discipline related to environmental science. It encompasses broad Science, scientific topics like chemistry, biology, ecology, geology, hydraulics, hydrology, microbiology, and mathematics to create solutions that will protect and also improve the health of living organisms and improve the quality of the environment. Environmental engineering is a sub-discipline of civil engineering and chemical engineering. While on the part of civil engineering, the Environmental Engineering is focused mainly on Sanitary Engineering. Environmental engineering applies scientific and engineering principles to improve and maintain the environment to protect human health, protect nature's beneficial Ecosystem, ecosystems, and improve environmental-related enhancement of the quality of human life. Environmental engineers devise solutions for Waste management, wastewater management, Water pollution, water and air pollution co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computer Science
Computer science is the study of computation, information, and automation. Computer science spans Theoretical computer science, theoretical disciplines (such as algorithms, theory of computation, and information theory) to Applied science, applied disciplines (including the design and implementation of Computer architecture, hardware and Software engineering, software). Algorithms and data structures are central to computer science. The theory of computation concerns abstract models of computation and general classes of computational problem, problems that can be solved using them. The fields of cryptography and computer security involve studying the means for secure communication and preventing security vulnerabilities. Computer graphics (computer science), Computer graphics and computational geometry address the generation of images. Programming language theory considers different ways to describe computational processes, and database theory concerns the management of re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Best, Worst, And Average Case
In computer science, best, worst, and average cases of a given algorithm express what the resource usage is ''at least'', ''at most'' and ''on average'', respectively. Usually the resource being considered is running time, i.e. time complexity, but could also be memory or some other resource. Best case is the function which performs the minimum number of steps on input data of n elements. Worst case is the function which performs the maximum number of steps on input data of size n. Average case is the function which performs an average number of steps on input data of n elements. In real-time computing, the worst-case execution time is often of particular concern since it is important to know how much time might be needed ''in the worst case'' to guarantee that the algorithm will always finish on time. Average performance and worst-case performance are the most used in algorithm analysis. Less widely found is best-case performance, but it does have uses: for example, where the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elishakoff
Isaac Elishakoff is an Israeli-American engineer who is Distinguished Research Professor in the Ocean and Mechanical Engineering Department in the Florida Atlantic University, Boca Raton, Florida. He is an internationally recognized, authoritative figure in the area of theoretical and applied mechanics. He has made seminal contributions in the areas of random vibrations, structural reliability, solid mechanics of composite materials, semi-inverse problems of vibrations and stability, functionally graded material structures, optimization and anti-optimization of structures under uncertainty, and carbon nanotubes. He has over 620 journal papers, authored, co-authored, edited, or co-edited 34 books and has given over 200 national and international talks at conferences and seminars. His selected lectures on (a) Elastic Stability, (b) Vibration Syntheses and Analysis and (c) Intermediate Strength of Materials are available on the internet. In 2024, Elishakoff has been selected f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
