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solar panel system
  • August 11, 2023
  • Application of the Riskit Analysis Graph and Pareto Analysis in Solar Panel System

    Riskit Analysis Graph

    The Riskit analysis graph, which Kontio H. Englund and Victor R. Basili created at Maryland University in the United States in 1996 is a common risk management technique (Saif and Sadim, 2015). When applied by the software development team, the riskit technique has consistently produced positive results over time. According to Kontio and Basili (1996), one of its noteworthy roles is to “help systematic and logical risk analysis via the use of a graphical formalism to facilitate qualitative analysis of risk situations before quantification is attempted.”…

    Pareto Analysis

    Vilfredo Pareto, an economist and sociologist who lived from 1848 to 1923, is credited with developing the notion of Pareto. Pareto noticed that a sizable percentage of a country’s wealth typically fell under the hands of a relatively small group of people (Pareto, 1964). With the use of this discovery, he was able to develop the following rule: “In any sequence of components to be managed, a selected little factor in terms of the elements usually always accounts for a big factor in terms of effort.” Pareto analysis is a statistical method used in decision-making for the selection of the few activities that have the greatest overall impact (Ankunda, 2011)…

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