RISK PROCESS73Quantitative Risk Analysis (PMBOK® 11.4, Perform Quantitative Risk Analysis)
What: |
Assessing risk severity in numerical terms. |
When: |
Project planning, execution, and control. |
Results: |
Risk-impact assessments in absolute units, such as time, cost, or effort. |
Quantitative risk analysis applies processes defined in the project risk-management planning on risks determined using risk identification. Generally qualitative risk assessment is done for all listed risks to determine which project risks may justify more precise quantitative analysis. Quantitative analysis requires greater effort, but it generates absolute estimates of risk probability and impact for the most severe project risks. Quantitative assessment relies on ...
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