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Project Management Blog
Saturday, 27 January 2007 17:30

Quantitative Risk

Quantitative Risk Analysis is performed on risks that have been prioritized by the Qualitative Risk Analysis process as potentially and substantially impacting the project’s competing demands. The Quantitative Risk Analysis process analyzes the effect of those risk events and assigns a numerical rating to those risks. It also presents a quantitative approach to making decisions in the presence of uncertainty. This process uses techniques such as Monte Carlo simulation and decision tree (comment that you’ll take about decision tree in a moment) analysis to:
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Thursday, 25 January 2007 17:56

Closing a Project

In multi-phase projects, the Close Project process closes out the portion of the project scope and associated activities applicable to a given phase. The two procedures necessary to perform the closure activities across the entire project or for a project phase:

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