PMI-RMP Certification Training - Perform Quantitative Risk Analysis - Inputs

The video tutorial explains the perform quantitative risk analysis process, which involves numerically analyzing the effect of identified risks on project objectives. It highlights the differences between quantitative and qualitative risk analysis, emphasizing the use of numerical data like days or dollars for quantitative analysis. The tutorial details the inputs required for this process, including the risk register, risk management plan, and organizational process assets. It also covers the importance of cost and schedule forecasts, milestones, and baselines in assessing risk exposure and determining confidence levels in achieving project objectives.

What is the primary purpose of performing quantitative risk analysis in project management?

How does quantitative risk analysis differ from qualitative risk analysis?

What are the key inputs required for the quantitative risk analysis process?

Why is it important to focus on risks that are above the project risk tolerance level?

Explain the significance of the risk management plan in the quantitative risk analysis process.

How can historical information and lessons learned from previous projects assist in quantitative risk analysis?

What role do cost estimates play in quantitative risk analysis?