Quantitative Risk Analysis:
Probabilistic analysis of project
Probabilistic analysis of the project. Forecasts of potential project schedule and cost results listing the possible completion dates or project duration and costs with their associated confidence levels.
How probable are we to achieve our Project Schedule? How probable are we to complete the project within budget? These are some of the probabilities that we aim at identifying and updating the Risk Register during this step
he PMBOK guide says that, the result of this kind of analysis is typically displayed as a Cumulative Distribution. These distributions are then used along with Stakeholder Risk Tolerances to allow for the quantification of Cost and Contingency Reserves. As with any value that is calculated by us, these reserves must be appropriate and realistic.
Probabilistic analysis of project
Probabilistic analysis of the project. Forecasts of potential project schedule and cost results listing the possible completion dates or project duration and costs with their associated confidence levels.
How probable are we to achieve our Project Schedule? How probable are we to complete the project within budget? These are some of the probabilities that we aim at identifying and updating the Risk Register during this step
he PMBOK guide says that, the result of this kind of analysis is typically displayed as a Cumulative Distribution. These distributions are then used along with Stakeholder Risk Tolerances to allow for the quantification of Cost and Contingency Reserves. As with any value that is calculated by us, these reserves must be appropriate and realistic.
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