Risk Analysis
After you've identified the schedule risks to your project, the next step is to analyze each risk to determine its impact. You can use risk analysis to help choose among several development options, or you can use it to manage the risks associated with an option you've already chosen. With risks in general, this can be a tricky business, but when you're primarily concerned with schedule risks, assessment is simpler.
Risk Exposure
A useful risk-analysis practice is to determine the "risk exposure" of each of the risks you've identified. Risk exposure is often abbreviated as "RE." (Sometimes it's called "risk impact.") One definition of risk is "unexpected loss." Risk exposure is equal to the probability of the unexpected loss multiplied ...
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