What is example of quantitative risk analysis?
It is performed to understand the probability and impact of risks on project objectives. For instance, in a construction project, quantitative risk analysis helps us to calculate the impact of a project delay such as obtaining a permit late causes a twenty-day delay with a cost of $80,000.
What are the quantitative risk analysis techniques?
An example of qualitative risk analysis is when an individual wants to set up a business. A project manager conducts a qualitative analysis to identify the risks, prioritize them based on their probability of occurrence and impact, and establish mitigation methods.
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