Application: Risk Assessment Applications

Risk assessment applications help predict the associated effect on an organization if a risk occurs. COBRA and I2S2 are two risk assessment applications that are explained in the textbook.

Compare the following two risk assessment/mitigation applications:

1. COBRA
2. I2S2

Create a table with different topics listed as column headings that distinguish these applications from each other. Include at least the following column headings:

• Input parameters
• Project cost formula
• Project cost risk assessment formula
• Determination of risk probabilities

Include at least two more columns so that it is apparent where the differences lie in the applications, as well as the advantages and disadvantages of each.