Project Risk Conceptualization by Metaphors

We discuss alternative ways risk is characterized by metaphorical thinking in the literature. Although it is acknowledged that risk may have positive and negative consequences, risk is usually considered as an “enemy” that has to be “defeated” or a “disease” to be “treated”. Metaphors such as dice/coin and black swans divert the attention of decision-makers to only one source of uncertainty, aleatory or epistemic, but not both. Integrative thinking is required where risk can be conceptualized as a “picture” that involves all sources of uncertainty as well as project vulnerability and resilience, considering the “knowledge” and “perspective” of the decision-maker behind the “risk picture”.
Citation Formats
İ. Dikmen Toker and M. T. Birgönül, “Project Risk Conceptualization by Metaphors,” Rotterdam, Hollanda, 2019, p. 762, Accessed: 00, 2021. [Online]. Available: