DOI

All people have to make risky decisions in everyday life. And we do not know how true they are. But is it possible to mathematically assess the correctness of our choice? This article discusses the model of decision making under risk on the example of project management. This is a game with two players, one of which is Investor, and the other is the Project Manager. Each player makes a risky decision for himself, based on his past experience. With the help of a mathematical model, the players form a level of confidence, depending on who the player accepts the strategy or does not accept. The project manager assesses the costs and compares them with the level of confidence. An investor evaluates past results. Also visit the case where the strategy of the player accepts the part.

Original languageEnglish
Title of host publicationProceedings of the International Conference of Computational Methods in Sciences and Engineering 2019, ICCMSE 2019
EditorsTheodore E. Simos, Theodore E. Simos, Theodore E. Simos, Zacharoula Kalogiratou, Theodore Monovasilis
PublisherAmerican Institute of Physics
ISBN (Electronic)9780735419339
DOIs
StatePublished - 10 Dec 2019
EventInternational Conference of Computational Methods in Sciences and Engineering 2019, ICCMSE 2019 - Rhodes, Greece
Duration: 1 May 20195 May 2019

Publication series

NameAIP Conference Proceedings
Volume2186
ISSN (Print)0094-243X
ISSN (Electronic)1551-7616

Conference

ConferenceInternational Conference of Computational Methods in Sciences and Engineering 2019, ICCMSE 2019
Country/TerritoryGreece
CityRhodes
Period1/05/195/05/19

    Scopus subject areas

  • Physics and Astronomy(all)

ID: 50350868