Flashcards in Perform Quantitative Risk Analysis Deck (8)

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1

## What is the purpose to Perform Quantitative Risk Analysis?

### The process of numerically analyzing the effects of identified risks on the overall project objectives.

2

## What are the tool and techniques to Perform Quantitative Risk Analysis?

### 1) Interviewing, 2) Probability Distributions, 3) Sensitivity Analysis, 4) Expected Monetary Value Analysis, 5) Decision Tree, 6) Monte Carlo Analysis (using many iterations to predict)

3

## What is Sensitivity Analysis?

### Analyze which variables have the greatest impact on the project. (Tornado Diagram)

4

## What is Expected Monetary Value Analysis?

### Statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen.

5

## What is the formula to find Expected Monetary Value Analysis (EVM)?

### EVM = Probability x Impact (positive is expressed as opportunities and negative as threats)

6

## What is a Decision Tree Analysis?

### Using EMV to make a decision.

7

## What is the output to Perform Quantitative Risk Analysis?

### Risk Register Update

8