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Home > Articles > Columns > Articles > Last Responsible Moment: Episode 3

Last Responsible Moment: Episode 3

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Written by Chris Matts   
Monday, 09 March 2009 01:00
mar-09-responsibilitybigThe third LRM strip already. Hopefully this one will be a bit easier to read than the previous two. Not a big difference but the words are better spaced I hope. In this episode, we finally get to meet the elusive Olav as he explains why the last responsible moment is so important in risk. Eagle eyed viewers will notice a glaring snaffu. On page one, Olav shows a graph of the cost of delay curve. Its wrong. I originally did it on the tube one morning and intended to come back and correct it. ( Bouncy packed underground trains and tipex do not make a good combination ). Amr spotted it but I did not have time to change it.

Please forgive the error. ( Note - Olav is an entirely fictitious character. I do not know anyone with that name or any tall dutch man who wears a black leather jacket and glasses ).


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Kevlin Henney
...
written by Kevlin Henney, March 25, 2009
Just a minor clarification concerning the statement that "risk is uncertainty": risk and uncertainty are related, but they are not the same. It is more accurate to say that risk is concerned with the consequences of uncertainty. If I bet a tenner on a horse tomorrow (unlikely), there is some small amount of risk involved and a certain amount of uncertainty. If I bet my house on that horse (even less likely), there is a significantly larger risk (not just incurring the wrath of my wife), but the same uncertainty applies.

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Last Updated on Tuesday, 23 June 2009 19:04
 
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