What is meant by this in the context of uncertainty & risk?
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FMDecision trees?
15y ago#1Simply put .. risk can be controlled .. Example business can decide to accept a Project or reject it
Uncertainty can not be controlled.... Example ; such as inflation can not be be controlled ....
in a business
Uncertainty can not be controlled.... Example ; such as inflation can not be be controlled ....
in a business
Also risk is quantifiable and uncertainty is unquantifiable.
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