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Another approach is to provide a probability distribution for the number of occurrences in the time period.
The probability may be determined from theoretical considerations or historical evidence may be used.
The pipeline is divided into segments that are relatively homogeneous relative to each of the 4 types of risk. An inventory of people, assets, environment, and public image items is taken in each segment and the data is collected within 100 meters of the pipeline, 100-200 meters of the pipeline, 200-400 meters of the pipeline, and 400-800 meters of the pipeline. The railway system is divided into segments that are relatively homogeneous relative to each of the 4 types of risk. For example, in the prairies, the railway is relatively straight, has uniform track bed, and has easy access. The history of rail failures and defects found during test runs was studied relative to the timing of the tests runs of the track.
One question I hear frequently from both colleagues and friends is: What are these dynamic capabilities?

1319), “dynamic capabilities can be disaggregated into the capacity (1) to sense and shape opportunities and threats, (2) to seize opportunities, and (3) to maintain competitiveness through enhancing, combining, protecting, and, when necessary, reconfiguring the business enterprise’s intangible and tangible assets”.
It is typically too complicated to try to understand, for example, the risk of operating a chemical plant in an urban area. For example, the number of accidents at a particular intersection in a year may be from 0 to 15. Thus for each segment, the distribution of people, assets, environment and public image items are about the same along the segment. Because failures are very infrequent, 20 years of history over an extended area is required. This post aims at providing a definition, a graph, and some references that I can refer people to when I hear this question again in the future.
Dynamic capabilities thus are the organizational and strategic routines by which firms achieve new resource configurations as markets emerge, collide, split, evolve, and die” (Eisenhardt and Martin, 2000, p. The graph below is from Augier and Teece’s (2006) paper, published in the journal Industrial and Corporate Change.

It differs slightly from the better known one by Teece (2007), published in the Strategic Management Journal.
Understanding Complex Organization: The role of Know-how, Internal Structure, and Human Behavior in the Evolution of Capabilities.
Explicating Dynamic Capabilities: the Nature and Microfoundations of (Sustainable) Enterprise Performance.
At their core, the development of dynamic capabilities is the response of strategy researchers to an ever-changing world.
However, Oxford Journals makes it fairly easy for me to use their content on my blog, so I have chosen the former graph over the latter for the purpose of this post. Psychological foundations of dynamic capabilities: reflexion and reflection in strategic management.

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change management definition oxford dictionary

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