In the first part of this discussion, we hopefully dispelled some myths about low data availability. We discussed how reasoning is used to generate data and how many useful pieces of risk insight emerge from even simple pieces of knowledge. We also contrasted a statistical approach to risk assessment with a physics based approach. The […]
Topic: 2013 Articles
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Pipeline Risk Assessment—Myth Busting Part 1
In the first installment of this column, we introduced the concept of pipeline risk assessment Essential Elements. This is a list of ingredients that arguably must be included in any pipeline risk assessment. In this installment, let’s examine “I can’t do good RA because I don’t have enough data.” There are at least two aspects […]