Perform Quantitative Risk Analysis

Project Risk Management

    Perform Quantitative Risk Analysis

  •           Quantitative risk analysis is generally performed on risks that have been prioritized by using the qualitative risk analysis.

    A quantitative analysis:

                   •  Quantifies the possible outcomes for the project and assesses the probability of achieving specific project objectives.

                   •  Provides a quantitative approach to making decisions when there is uncertainty.

                   •  Creates realistic and achievable cost, schedule or scope targets.

    Perform Quantitative Risk Analysis-Inputs

                   •  Risk Management Plan

                   •  Cost Management Plan

                   •  Schedule Management Plan

                   •  Enterprise Environmental Factors

                   •  Organizational Process Assets

    Perform Quantitative Risk Analysis-Tools and Techniques

                   •  Data Gathering and Representation Techniques

                        o  Interviewing

                        o  Probability Distribution

                   •  Quantitative Risk Analysis and Modeling Techniques

                        o  Sensitivity analysis

                        o  Expected Monetary Value Analysis

                        o  Modeling and Simulation

                   •  Expert Judgment

    Perform Quantitative Risk Analysis-Outputs

                   •  Project Document Updates

                        o  Probabilistic Analysis of the project

                        o  Probabilistic of achieving cost and time objectives

                        o  Prioritized list of quantified risks

                   •  Trends in quantitative risk analysis results

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