PMI-RMP Certification Training - Quantitative Risk Analysis

The video tutorial covers various analytical methods used in project risk management. It begins with sensitivity analysis, which identifies the most risk-sensitive aspects of a project. Next, it explains expected monetary value (EMV) analysis, a method to calculate the average outcome of scenarios by multiplying probability and impact. Decision tree analysis is then introduced as a tool for making informed project decisions using EMV. Finally, the tutorial discusses modeling and simulation to assess potential impacts of events on a project using random input values.

What is sensitivity analysis and why is it important in project management?

What aspects of a project are considered most sensitive from a risk perspective?

Explain the concept of expected monetary value (EMV) analysis.

How does decision tree analysis utilize expected monetary value?

Describe the role of modeling and simulation in project risk assessment.