The objective of the class project is to apply the concepts learned in class using
a real case scenario. The objective is to analyze a risk using a simulation or a
Bayesian model. Unlike assigned problems, real world problems rarely provide
the facts and the data needed to model the problem conditions. As part of
presenting a solution for this project you will have to identify, create or propose
the facts and data needed to develop your model.
Risk conditions can be identified in every day events. For this project, the
objective is to identify and analyze a risk from a movie.
objective is to identify and analyze a risk from a movie.
Please review the
following links.
following links.
https://www.assetworks.com/wp-content/uploads/2017/01/Risk-Management-Movies.pdf
http://southtexas.rims.org/southtexaschapter/communityresources/communityblogs/blogviewer?Bl
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The project will consist of 2 separate deliverables:
1. Selection of a topic: Whitepaper (2-3pages) Make sure you include all the
sections listed below
sections listed below
• (20 points) Describe the movie (write you’re the movie title on the moodle
bulletin board to make sure that the same movie is not selected more than
once)
bulletin board to make sure that the same movie is not selected more than
once)
• (20 points) Using the concepts discussed in class, identify potential risks
associated with the movie. A movie can potentially have multiple risk
events; please focus on closely related events if there is more than one.
You only need to analyze one risk.
associated with the movie. A movie can potentially have multiple risk
events; please focus on closely related events if there is more than one.
You only need to analyze one risk.
• (20 points) List the risks using the format presented in class (identify risk
event, mitigation, etc)
event, mitigation, etc)
• (20 points) Specify 2 research questions (risk analysis) that you would like
to answer using your model.
• (20 points) Identify potential data sources that could be used to develop
your model. In the absence of data sources you can generate the data
using reasonable and supported assumptions.
to answer using your model.
• (20 points) Identify potential data sources that could be used to develop
your model. In the absence of data sources you can generate the data
using reasonable and supported assumptions.
2. Analysis (Paper – MLAformat)
• Write a report including the following sections
o (20 points) Introduction: A brief description of your movie and your
objectives
objectives
o (20 points) Facts and assumptions (include citations if available)
o (20 points) Describe the process used to develop the model (simulation or
Bayesian)
Bayesian)
o (20 points) Describe your findings
o (20 points) Analyze your findings and answer your research questions
(using the tools discussed in class)
(using the tools discussed in class)
ScholarMatic: Explanation & Answer
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