Quantitative risk analysis

Quantitative risk analysis

The process of numerically analysing the effect on overall project objectives of identified risks.

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Part of Speech: noun
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Industry/Domain: Business services
Category: Project management
Company: WSDOT
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Related terms

quantitative risk analysis

Business services; Project management

The process of numerically analyzing the effect on overall project objectives of identified risks.

simulation

Business services; Project management

A simulation uses a project model that translates the uncertainties specified at a detailed level into their potential impact on objectives that are expressed at the level of the ...

project life cycle

Business services; Project management

A collection of generally sequential project phases whose names and numbers are determined by the control needs of the organization or organizations involved in the project. A ...

direct costs

Business services; Project management

The costs directly attributed to a work-scope, such as labor, material, equipment, and subcontracts, but not the cost of operations overhead and the labor, material, equipment, ...

skill

Business services; Project management

Ability to use knowledge, a developed aptitude, and/or a capability to effectively and readily execute or perform an activity.

project management (PM)

Business services; Project management

The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements.

direct labor costs

Business services; Project management

Costs accruing from expended labor excluding the bonus portion of overtime, insurances, and payroll taxes.

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Hinglish is an amalgamation of 'Hindi' and 'English' which has for some time been used to describe the hybrid language used by many Indians. It is a ...