PMI-RMP Certification Training - Case Study 4

The video tutorial discusses a project managed by Alex with a $5 million budget and a 24-month timeline. It covers the use of three-point estimation for effort and cost, and addresses stakeholder concerns about project completion confidence. Alex is advised to perform quantitative risk analysis, using standard deviation to provide confidence levels. The tutorial also suggests using Monte Carlo simulation for predicting project outcomes and determining additional contingencies.

What new insight or understanding did you gain from this video?