Saturday, 26 March 2016

Qualitative risk analysis

March 24, 2016

Q: Qualitative risk analysis
Are fields in Risk Information Dialog box (cost, trigger, etc.) linked to quantitative risk analysis?

A: Quick answer is no, this information is not used in the quantitative analysis, rather is part of the risk planning/management capability. If you are performing quantitative risk analysis, you can calculate the cost of the risk by turning risks off and on and using the difference in cost (or schedule) as the expected cost of the risk. This can then be entered in the Risk Properties and become the basis for the cost benefit analysis of particular risk handling strategies.

The same can be done for risk triggers. If you want to model this in the schedule, you can correlate risks to approximate this relationship.

For more information please visit: http://www.intaver.com/IntaverFrm/viewtopic.php?f=3&t=1236

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