Sunday, December 28, 2008

Perform Quantitative Risk Analysis: Output (in terms on PMP)

Risk Register Updates:

  • Prioritized list of quantified risks
    What are the risks that most likely to cause trouble? That needs the most contingency?

  • Amount of contingency and cost reserves needed.

  • Possible realistic and achievable completion date and project costs with confidence level versus the cost oand time objective for the project.

  • The quantified probability of meeting project objectives.

  • Trends in quantified risk analysis.

Decision Tree Analysis

Decision Tree Analysis
  • is an assessment of the data obtained using the decision tree method to evalute various possible outcomes.
  • allows decision-makers to factor in both probability and impact for each branch of every decision under consideration.
  • indicates the decision that will provide the greatest expected value when all the uncertain implications, costs, rewards and subsequent decisions are quantified.

Recommended Books on PMP

Suggested Study Materials

  • PMP-Preparation Recommended Books
  • PMP Exam Prep, Fifth Edition: Rita's Course in a Book for Passing the PMP Exam
  • A Guide to the Project Management Body of Knowledge, Third Edition (PMBOK Guides)
  • The PMP Exam: How to Pass On Your First Try (Test Prep series)