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Quantitative risk analysis: Why bother?

from By Dr. David Hulett

Many projects overrun their budget and schedule targets, often due to bias or because of plans that do not fully reflect the impact of uncertainty and risks (including both project-specific risks and systemic risks). Fortunately, quantitative risk analysis can help to address both of these, through a two-stage analysis. The first stage addresses the two main causes of unrealistic plans. In the second stage, quantitative risk analysis results can be used to guide proactive risk management actions. more

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