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Which of the fundamental questions of risk management (consider all twelve) would benefit from using pairwise...

Which of the fundamental questions of risk management (consider all twelve) would benefit from using pairwise ranking? Why?

Math   Statistics-And-Probability   
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Answer #1

prioritize criteria from a fundamental question of risk management would benifit from pairwise ranking.

  • Criteria are things that, by definition, can’t be measured on the same scale. You can’t come up with a scale that me asures risk and cost – they are just different.
  • But you still have to prioritize your criteria and this is where pairwise comparison comes in. Simple questions like, "Is risk or cost more important" are a great way to unpick the complexity of a multi-criterion decision and AHP gives us the tools to put the whole picture back together again.
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