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James Nicholas's avatar

Playful addendum:

Is CP =, <, or > CE*PE ?

CP is Cost of planning

CE is Cost of event

PE is Probability of event

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James Nicholas's avatar

Perhaps the cost of the time and resources devoted to contingency planning should be, at least in part, related to (1) the probability of the event and (2) the cost or consequence of the event should it occur.

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