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Various project management approaches do not consider the impact that uncertainties have on the project. The identified threats by uncertainty in a projec day-to-day are real and immediate and the expectations in a project are often high.…

Risks threatening modern societies form an intricately interconnected network that often underlies crisis situations. Yet, little is known about how risk materializations in distinct domains influence each other. Here we present an approach…

Researchers, government bodies, and organizations have been repeatedly calling for a shift in the responsible AI community from general principles to tangible and operationalizable practices in mitigating the potential sociotechnical harms…

In this paper, we present a unified framework for decision making under uncertainty. Our framework is based on the composite of two risk measures, where the inner risk measure accounts for the risk of decision given the exact distribution…

It is no secret that many projects fail, regardless of the business sector, software projects are notoriously disaster victims, not necessarily because of technological failure, but more often due to their uncertainties. The threats…

Security practices in large organizations are notoriously difficult to assess. The challenge only increases when organizations turn to third parties to provide technology and business services, which typically require tight network…

This paper is concerned with a simulation study for a stochastic production network model, where the capacities of machines may change randomly. We introduce performance measures motivated by risk measures from finance leading to a…

All people have to make risky decisions in everyday life. And we do not know how true they are. But is it possible to mathematically assess the correctness of our choice? This article discusses the model of decision making under risk on the…

Software development meets the various challenges of rapidly growing markets. To address such challenges projects to design and adopt specific development approaches. However, various project management approaches do not consider the…

Today it is crucial for organizations to pay even greater attention on quality management as the importance of this function in achieving ultimate business objectives is increasingly becoming clearer. Importance of the Quality Management…

Success of any IT industry depends on the success rate of their projects, which in turn depends on several factors such as cost, time, and availability of resources. These factors formulate the risk areas, which needs to be addressed in a…

Uncertainty is prevalent in engineering design, data-driven problems, and decision making broadly. Due to inherent risk-averseness and ambiguity about assumptions, it is common to address uncertainty by formulating and solving conservative…

Risks and potential benefits of distributing software development projects globally depend to a large extent on how to allocate work to different development sites and regions. Existing methods in task allocation are likely to omit the…

A major source of risk in project management is inaccurate forecasts of project costs, demand, and other impacts. The paper presents a promising new approach to mitigating such risk, based on theories of decision making under uncertainty…

There is a lack of formal risk management techniques in agile software development methods Scrum. The need to manage risks in agile project management is also identified by various authors. Authors of this paper conducted a survey to find…

Resilience is a rehashed concept in natural hazard management - resilience of cities to earthquakes, to floods, to fire, etc. In a word, a system is said to be resilient if there exists a strategy that can drive the system state back to…

A risk analyst assesses potential financial losses based on multiple sources of information. Often, the assessment does not only depend on the specification of the loss random variable but also various economic scenarios. Motivated by this…

In this study, we will discuss recent developments in risk management of the global financial and insurance business with respect to sustainable development. So far climate change aspects have been the dominant aspect in managing…

When simulating a complex stochastic system, the behavior of output response depends on input parameters estimated from finite real-world data, and the finiteness of data brings input uncertainty into the system. The quantification of the…

Uncertainty defines our age: it shapes climate, finance, technology, and society, yet remains profoundly misunderstood. We oscillate between the illusion of control and the paralysis of fatalism. This paper reframes uncertainty not as…