9D - Perform Quantitative Risk Analysis Flashcards
A numerical method that is used to assess the probability and impact of risk and measure the impact.
quantitative risk analysis
The overall risk ranking for producing the final deliverable of the product or service of the project.
project risk ranking
Risk analysis methods that allow project managers to consistently determine the probability and impact of each risk.
quantitative analysis methods
A method of assessing the relative impact of changing a variable in the project to gain insight into possible outcomes of one or more potential courses of action.
sensitivity analysis
An assessment of the data obtained using the decision tree method to evaluate various possible outcomes.
decision tree analysis
A technique that uses computer models and estimates of risk to translate uncertainties at a detailed level into their potential impact on project objectives at the total project level.
simulation
A technique that is used by project managers to make predictions about the optimistic, most likely, and pessimistic estimates for variables in the model, and simulates various outcomes of the project schedule to provide a statistical distribution of the calculated results.
Monte Carlo analysis
A method of calculating the average outcome when the future is uncertain.
EMV analysis
What does EMV stand for?
Expected Monetary Value
