Description

 
A technique to analyze the combined effects of project risks and other sources of uncertainties to evaluate the potential impact on the project objectives including scope, cost, time, and effort. Example – Monte Carlo Analysis.
 
It is an independently-used project management tool.

Where it is Used

 
Process Groups
 

This tool is used in the following Process Group(s) during the project management

 
Planning
 
Knowledge Areas
 

This tool is used in the following Knowledge Areas during the project management

 
Project Risk Mgmt.
Project Schedule Mgmt.
 
 
Activities
 

This technique is used while performing the following project management activities by the project manager and the team

Perform Quantitative Risk Analysis
Develop Schedule
 
 
 
Process Group
Knowledge Area
Activity
Planning
Project Risk Mgmt.
Perform Quantitative Risk Analysis
Project Schedule Mgmt.
Develop Schedule
 
 
 
 
 
 
Copyrights Reserved (MyPMP)

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Kailash B is a project management expert. He is passionate about helping people to become PMP certified and excel in their careers. He has 2 decades of experience in the field of IT project management.
A post-graduate in business management and both PMP® & PRINCE2® certified, Kailash is an active contributor to the Project Management Institute. He is the Founder of MyPMP Academics a, leading organization with the prime motive to help people grow in project management.

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