Transcription of Quantitative Risk Analysis - KFUPM
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Quantitative Risk Analysis - KFUPM
Quantitative Risk Analysis 4. Quantitative Risk Analysis Quantitative risk Analysis analyzes numerically the effect a project risk has on a project objective. The process generally follows qualitative Analysis and utilizes techniques such as Monte Carlo simulation and decision Analysis to: Determine the probability of achieving a specific project objective. Identify risks requiring the most attention by quantifying their relative contribution to project risk. Identify realistic and achievable cost, schedule or scope targets. Quantify project outcomes and their probabilities. Guides project management decisions under conditions of uncertainty such as determination of size of contingency.
4.1 Inputs to Quantitative Risk Analysis Organizational & Environmental Process Assets Information from past projects, studies of similar projects, risk databases. Project Scope Statement Risk Management Plan Major elements from the plan needed include roles &
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