Search

A pragmatic procedure is suggested to determine the size of a project's, a program's, or a system's risk contingency budget at any specified level of certainty, e.g., 99% confidence. The size of the budget is a function of the number of risks expected at the specified confidence level. The number of risks used for developing the contingency budget depends on the total number of risks to be considered and the estimated probabilities of occurrence of the risks. The exact number, derived from the binomial distribution, is given in a table or, when the number of risks to be considered is greater than about 20, by a simple formula. The findings suggest that a specific contingency budget amount can be set aside for the small fraction of risks that typically materialize. The specific numbers would depend on the risk tolerance of the organization. Index Terms--Binomial distribution, contingency budget, management, risk, risk tolerance, strategy.

The Clinton administration is providing more support for the NIST to show its commitment to the US' industrial superiority. The NIST is currently promoting the Advanced Technology Program to support the administration's industrial philosophy.

The American Assn. for the Advancement of Science's Congressional Fellows program has been enthusiastically welcomed by Congress. The Fellows use both their technical knowledge and interpersonal skills to make an impact on issues ranging from nuclear waste to telecommunications.

The Superconducting Super Collider site in Waxahachie, TX, may soon become totally abandoned. The state legislature decided in May 1995 to scrap funding for the defunct project. Around half of the physicists involved in the project have turned to opportunities outside their field.

Carthage College, WI, has launched a unique entrepreneurial studies program designed to aid science students work smoothly in the business environment. The program is intended to supplement formal science training and can be participated in by any student, although it targets science majors.

Scientists at the Argonne National Laboratory have succeeded in extracting an x-ray beam from the Advanced Photon Source. This breakthrough is expected to result in the proliferation of new research activities that require high intensity beams.

James Madison University (JMU) has decided to abolish its physics program for the 1995-96 schoolyear. The university has also ended the services of its 10 tenured physics instructors. The move is part of JMU's restructuring program.

The DOE is archiving information on nuclear weapons design and construction. The effort supports the Clinton administration's overall plan for the country's nuclear arsenal.

The US obtained the third highest team score in the 25th International Physics Olympiad held in Beijing, China. It was the best overall finish for a US team in the event. Teams from China and Germany finished first and second, respectively.

Marc H. Brodsky aims to satisfy three goals while steering the American Institute of Physics (AIP) through future evolutionary changes. The three pertain to the AIP's role as an umbrella organization, the steep rise of journal prices and the AIP's image.

Nonprofit and governmental agencies of the former Soviet Union and Baltic states can participate in the ISF's Grant Assistance Program to fund noncommmercial research. They are obliged to pay 10% of the donated resources.

Reports on the boost given by President Bill Clinton's administration to the National Institute of Standards and Technology as a `partner for industry'. History; Projects; Contents of the report `Technology for America's Economic Growth--A New Direction to Build Economic Strength'. INSET: Physics by any other name...

Reports on the American Physical Society's decision to establish a forum on industrial and applied physics, FIAP. Program applications; Survey on nonacademic physicist; Feedback from Abbas Ourmazd of AT&T Bell Laboratories.

Reports on the American Institute of Physics' annual meeting of Corporate Associates on October 24 and 25, 1994 at the AT&T Bell Laboratories in Murray Hill, New Jersey. Participants; Issues and topics discussed; Programs and activities.