thinQmaster Virtual testing partner Adaptive practice exams that find your weak spots and drill them. Every answer explained. From $69
Enroll

thinQmaster

Find your exam

Five questions free, before you decide.

Step 1 · choose a vendor

In one of our camps? Your practice exams come with the tuition — they are on your study page already.

Project Management & Agile · Advanced

Perform Quantitative Risk Analysis

Process of numerically analyzing the combined effect of identified risks and other sources of uncertainty on overall project objectives.

Definition

Techniques include Monte Carlo simulation, sensitivity analysis (tornado diagrams), decision tree analysis, and influence diagrams. It is not required on every project and depends on quality data and tools.

Example

Simulation shows a 70% probability of finishing by the September deadline.

Exam tip

Quantitative analysis evaluates overall project risk; it is not mandatory for all projects.

Related terms