Raj kumar, Member
The fourth quadrant is extremely fragile and very complex.. We won't be able to predict the Black Swan effect reason...
But we can explore the risk associated with process by using statistics... And then amplifying them such that we can eliminate major impacting risks.
For example: in making tea if we do not add, or forget to close the gas inlet... We can easily compare the impact and then can take precaution as per that... But for complex process risk parameters will increase dramatically and analysis will be difficult but not impossible.