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?

Evaluate responses using AI:

OFF

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

Evaluate responses using AI:

OFF

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

Evaluate responses using AI:

OFF

How does decision tree analysis utilize expected monetary value?

Evaluate responses using AI:

OFF

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

Evaluate responses using AI:

OFF