CH 7: Success, Risk, and Continuation (foresee risks (Risk types (ethical…
CH 7: Success, Risk, and Continuation
Identify Success Criteria
factors to consider
Is mgmt on board with the project?
can the model drivers be visualized?
who will use the model?
how much value can the model produce?
Involve SME early for success
must be able to specify and communicate value
costs and benefits
risks are difficult to caluculate
play devils advocate
risk may relate to being insufficiently predictive or too predictive
data may be missing or insufficent quality
Decide whether to continue
do after wighing risks/rewards