Are you managing individual risks in your project or overall project risk? The answer to this question can be vital to the success of your project.
Traditionally, many projects limit their risk processes to Qualitative risk analysis which focuses on individual project risks without recognizing the overall risk exposure of the project. Decisions, based on Qualitative analysis alone, can set unrealistic stakeholders’ expectations and lead to ineffective mitigation strategies.
Quantitative risk analysis focuses on the overall risk impact on project objectives. Using probabilistic analysis and Monte Carlo simulation, it examines possible combinations of project risks and creates a complete picture of overall risk exposure. It identifies project areas where risks threaten objectives the most and where mitigation strategies should be implemented.
Join this session to learn how to apply Quantitative risk analysis to assess and manage overall project risk.