Question

Compare tradition systems engineering risk management to decision trees.

Answer 1

Traditional risk management encompasses Qualitative and quantitative assessment of risks and risk control is through retrospective actions without effective risk forecasting. Here ficus is on processes. Level of risk identification is financial risk. Sometimes creates cumbersome information sharing and overall financial risk is been taken.

Decisions trees help in managing diverse risks and efficient allocation of resources and overall strategic planning as compared to retrospective planning. Here focus on people and processes. Here business risks can be identified as whole and managed complely which thus saves cost and time.