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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 18:27

Scope Verification

Scope verification is the process of formalizing acceptance of the project scope by the stakeholders. It requires reviewing work products and results to ensure that all were completed correctly and satisfactorily. Scope verification occurs at the end of each project phase, and as part of the project closeout process. Scope verification is concerned with stakeholder Acceptance of the work. Work is sometime denied and must be Re-Worked. 

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