Risk Modelling
CataloguedA mathematical representation of a system, commonly incorporating probability distributions and using relevant historical data as well as expert elicitation to understand the probability of a risk event occurring and its potential severity.
Risk Modelling sits under Business Operations in the Business domain of the Luminid skills catalogue.
Also known as
- risk quantification
- risk modeling
- risk model
- risk analysis
- risk assessment
- probabilistic modeling
- quantitative risk analysis
- monte carlo simulation
- scenario modeling
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