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Define quantitative risk analysis

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Reference no: EM131563623

Answer the following questions using the Unit 5 course materials - both text and online materials:

  1. Define quantitative risk analysis and the key inputs and outputs.
  2. What tools and techniques are recommended for quantitative risk analysis?
  3. Describe the Monte Carlo simulation. What are its key outputs and how do those outputs help the project manager regulate risks?
  4. How are probability distributions used in quantitative risk analysis?

Provide a short paper (400-600 words in length) containing your answers. Successful papers demonstrate:

  • Thoughtful responses that compare/contrast/assess different authors' perspectives.
  • Your insights as well as examples from your personal/work experiences that demonstrate your ability to apply what you are learning.
  • Citations documenting the assigned readings were used to answer the questions. 
  • All references listed correctly at the end of the paper and cited properly in the paper.

Reference no: EM131563623

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