Friday, January 23, 2015

Perform Quantitative Risk Analysis - PMBOK

Perform Quantitative Risk analysis is the process of numerically analyzing the effect of identified risks on overall project objectives.

Inputs:

  • Risk Management plan
  • Cost Management plan
  • Schedule Management plan
  • Risk Register
  • EEF
  • OPAs
Tools and Techniques:
  • Data gathering and representation techniques (Interviewing, Probability distributions {Beta, Triangular})
  • Quantitative risk analysis and modeling techniques (Sensitivity analysis {Tornado diagram}, Expected Monetary value analysis {Decision Tree}, Modeling and simulation) 
  • Expert judgment
Outputs:
  • Project document updates (Probabilistic analysis of the project, Probability of achieving cost and time objectives, Prioritized list of quantified risks, Trend in quantitative risk analysis results)

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