PMI-RMP Certification Training - Qualitative Versus Quantitative Risk Analysis

The video tutorial covers qualitative and quantitative risk analysis, emphasizing their differences and applications. Qualitative risk analysis involves subjective assessments and prioritizes risks for treatment, resulting in a prioritized risk register. Quantitative risk analysis predicts project outcomes using probability distributions and project models, requiring specialized tools. It estimates the likelihood of meeting targets and identifies risks with significant impacts on project schedules or costs. The tutorial also discusses the structure and tools used in quantitative analysis, such as Monte Carlo simulations and decision tree analysis.

Describe the structure of quantitative risk analysis as discussed.

What tools and techniques are used in quantitative risk analysis?