Project Quantitative Risk Analysis (PMBOK 2000)

Overview/Description
 Are you unsure about how to measure risk? Risk and uncertainty are natural factors in business and can be estimated using quantitative risk analysis. Quantitative risk analysis is a powerful technique that simulates various unknowns based on a project's variables. The result of the analysis is a realistic estimate of the project's total degree of uncertainty. Project managers can reduce project risks while maintaining key objectives through revision of the project's schedule, budget, scope, or quality. "Project Quantitative Risk Analysis (PMBOK 2000) " will teach you how to choose the most appropriate tools and techniques to use when analyzing your project's quantitative risks. This course is aligned with "A Guide to the Project Management Body of Knowledge" (PMBOK ® Guide) 2000 Edition, published by the Project Management Institute (PMI ®).

Target Audience
 This series is specifically targeted at project managers, project team members, functional managers with employees assigned to project teams, project stakeholders, any team manager or member interested in project management, executives committed to their organization's growth, managers required to take on new challenges, and top managers with vision.

Expected Duration
4.0 hours

Lesson Objectives:

Inputs to Quantitative Risk Analysis

  • recognize the benefits of knowing what inputs should be considered when analyzing a project's quantitative risks.
  • identify examples of the components that should be included in a risk management plan for a given scenario.
  • identify other risk management outputs used in quantitative risk analysis.
  • identify examples of sources of historical information and expert judgment for a given scenario.
  • match other planning outputs used in quantitative risk analysis to their examples.

    • Tools and Techniques for Quantitative Risk Analysis

  • recognize the benefit of understanding the tools and techniques for quantitative risk analysis.
  • sequence examples of the events that take place during a risk interview.
  • identify examples of the steps used to conduct a sensitivity analysis.
  • sequence examples of the steps used to perform a decision tree analysis.
  • determine the best decision path for a given project.
  • sequence examples of the steps used to perform a Monte Carlo simulation.

    • Outputs from Quantitative Risk Analysis

  • recognize the benefit of understanding the outputs from quantitative risk analysis.
  • identify the types of quantified risks that result from a quantitative risk analysis.
  • match project threats and project opportunities to examples.
  • match other quantitative risk analysis outputs to their definitions.
  • identify examples of other quantitative risk analysis outputs.

    • Course Number: PROJ0493