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Lets learn about the important Tools and Techniques used in Perform Quantitative Risk Analysis in PMI PMP PMBOK based project management tutorial: Here are some Data Gathering and Representation Techniques for your reference which is part of perfom quantitative risk analysis. interviewing: Interviewing techniques draw on experience and historical data to quantify the probability and impact of risks on project objectives. The information needed depends upon the type of probability distributions that will be used. For instance, information would be gathered on the optimistic ,pessimistic, and most likely scenarios for some commonly used distributions. Here is an Example of three point estimates for cost. Probability distributions: Continuous probability distributions, which are used extensively in modelling and simulation, represent the uncertainty in values such as durations of schedule activities and costs of project components. Discrete distributions can be used to represent uncertain events, such as the outcome of a test or a possible scenario in a decision tree. Here are the two widely used continuous distribution for your reference. Beta Distribution and ,Triangular Distribution Here are the perform quantitative risk analysis another tools Quantitative Risk Analysis and Modeling Techniques. Sensitivity analysis: Sensitivity analysis helps to determine which risks have the most potential impact on the project. It helps to understand how the variations in project’s objectives correlate with variations in different uncertainties Expected monetary value analysis: Expected monetary value (EMV) analysis is a statistical concept that calculates the average outcome when the future includes scenarios that may or may not happen (i.e., analysis under uncertainty). Modeling and simulation: A project simulation uses a model that translates the specified detailed uncertainties of the project into their potential impact on project objectives. Simulations are typically performed using the Monte Carlo technique. Expert Judgment
Views: 3005 Kavin Kumar

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This video describes Risk Analysis Techniques - Qualitative and Quantitative. It also describes techniques to do Qualitative and Quantitative Risk Analysis along with developing rating scales. -~-~~-~~~-~~-~- Please watch: "Introduction to MS Paint" https://www.youtube.com/watch?v=fhIGiUWdkzY -~-~~-~~~-~~-~-
Views: 23732 Project Management

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This short presentation formed part of an APM Risk SIG workshop on the uses of QRA, in February 2016. Most people use QRA to identify the most important individual risks. Here David Hillson explains how to use it to quantify overall project risk exposure.
Views: 12187 RiskDoctorVideo

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Views: 63427 Professor Messer

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Views: 7062 Harry Hall

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Confused about ualitative and quantitative risk analysis? Watch the video, find out the difference! www.pmwars.com
Views: 13147 PMwars

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Video shows how schedule risk analysis is performed in RiskyProject project risk management and risk analysis software. Monte Carlo simulations require inputs to perform the analysis: duration estimates and statistical distributions. In this video, we describe what a statistical distribution for schedules is and use a real life example to gather the distribution data and describe them using frequency histograms and cumulative probability plots. Finally, we use the data we generated from this real life example, to create a risk analysis model in the software and run a Monte Carlo simulation. For more information how to perform schedule risk analysis using RiskyProject software please visit Intaver Institute web site: http://www.intaver.com. About Intaver Institute. Intaver Institute Inc. develops project risk management and project risk analysis software. Intaver's flagship product is RiskyProject: project risk management software. RiskyProject integrates with Microsoft Project, Oracle Primavera, other project management software or can run standalone. RiskyProject comes in three configurations: RiskyProject Lite, RiskyProject Professional, and RiskyProject Enterprise.
Views: 31229 Intaver Institute Inc.

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Health,Safety and Environmental Management in Petroleum and Offshore Engineering by Dr. Srinivasan Chandrasekaran, Department of Ocean Engineering, IIT Madras. For more details on NPTEL visit http://nptel.iitm.ac.in
Views: 7955 nptelhrd

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- محاضرات مراجعة وحل اسئلة للإعداد لاجتياز امتحان محترف إدارة مشروعات Video Sessions and Solving Questions for preparation to pass PMP exam. - للحصول على شرح كامل لكل شابتر مع حل اسئله على كل شابتروالحصول على شهاده حضور 35 ساعة من خلال هذا الرابط :- https://www.udemy.com/pmp-preparation-course-6th-edition/?couponCode=6EDITION - للحصول على كورس اسئلة مجانية على كل Knowledge Area من خلال هذه الرابط :- https://www.udemy.com/pmp-questions/?couponCode=PMP.YTF.2018 - للحصول على امتحاناتى + اسئله على مهام مدير المشروع من خلال هذه الرابط :- For My Full Exams + Questions For Exam Content Outline From this link https://www.udemy.com/pmp-200-real-questions-one-real-exam/?couponCode=PMP.YT.2018 - جروب المذاكرة على الفيس بوك https://www.facebook.com/groups/PMPTRICKS/ - متنسوش تعملو Subscribe للقناة وتفعلو زر التنبيهات علشان يوصلكو اخر فديوهاتى.
Views: 1924 SAYED MOHSEN PMP

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Quantitative Risk Assessment (QRA) is a valuable tool for determining the risk of the use, handling, transport and storage of dangerous substances. QRAs are used to demonstrate the risk associated with the facility and to provide competent authorities with relevant information to enable decisions on the acceptability of risk related to developments on site, around the establishment or transport route. QRA is a formalized specialist method for calculating individual, environmental, employee and public risk levels for comparison with regulatory risk criteria.
Views: 1707 Chola Ms

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Online Project Management education for individuals, schools, and businesses. Video classes, sample exams, articles, tips , games and more! Visit us! http://newinpm.com Facebook https://www.facebook.com/capmpreparation Linkedin http://www.linkedin.com/groups?gid=4987477 Google+ https://plus.google.com/+Newinpm/ Perform Quantitative Risk Analysis is the process of numerically analyzing the effect of identified risks on overall project objectives. The key benefit of this process is that it produces quantitative risk information to support decision making in order to reduce project uncertainty.
Views: 1129 NEW In PM

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Passionate Project Management, www.PassionatePM.com, is pleased to sponsor this Passionate Project Management YouTube channel. Passionate Project Management specializes in project management learning, development, and consulting. Passionate Project Management offers open enrollment and private on-site courses delivered by the leading instructors in the industry. Passionate Project Management provides PMP Exam Prep, CAPM Exam Prep, PMI-RMP (Risk Management) Exam Prep, and PMI-ACP (Agile) Exam prep. This Video is a component of our Learning Concepts Series: 2. Qualitative versus Quantitative Risk Analysis narrated by Belinda Fremouw. Belinda was the first woman in the world to achieve the original five PMI Credentials. Her experience spans multiple decades, crosses several industries, and includes domestic and international project experience. Belinda is a well-known public speaker and author. Check out our website at www.PassionatePM.com for all of our course offerings and exam prep study materials. www.PassionatePM.com #PassionatePM #BelindaFremouw #BelindaPMP
Views: 24482 PM Learning Solutions

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Our team of CEH analysts are preparing for their CISSP. Here is a glimpse of some of our peer-to-peer training on quantitative risk assessments.
Views: 311 METMOX_INC

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The importance of qualitative risk analysis is typically underestimated as part of a financial analysis. Understanding the macroeconomic, political, regulatory, industry and company specific risks is crucial as part of a financial analysis. In the M-Training videos, we will be covering the following topics: Credit Analysis Project Finance Infrastructure Finance Real Estate Training Corporate Banking Financial Analysis Financial Markets
Views: 10 M-Training

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Risk is part and parcel of any project. Risk identification, analysis and management are the foundations of successful project management.Successful project leaders always do two things very well.First they accept and approach a new project with the idea that the project is totally new irrespective of the fact that there could be similarities between earlier projects handled and also the experience base of the team.Second they go through a systematic and through risk analysis of the project as though there is no tomorrow.These qualities enable them to appreciate the project challenges well ahead and they are invariably ready to face the challenges with suitable actions so that the project objectives are achieved as defined in the project charter. Project Management Body of Knowledge (PMBOK) by PMI also brings in very extensively as one of the nine knowledge areas that requires sufficient focus.An analysis of project management literature leads one to conclude that lack of clear risk understanding and management is the reason for the failure of majority of the projects, This is more so for complex and large projects.Risk , by nature ,is difficult for project managers to visualise due to their enthusiasm to go ahead and execute the projects. Also self interest and personal agenda of the project team lead to assessing issues and challenges optimistically rather than realistically.This focus of this web cast will be the understanding of risks from strategic and execution perspectives and dwell of the methodologies for handling the risks.
Views: 11485 TechGig

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Views: 34440 Parr and Associates

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Description
Views: 123 Syed Hasan Ahmed

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Check out my Blog: http://exceltraining101.blogspot.com This video covers how to create a colored (green-yellow-red) risk assessment chart. This is used in project management to compare risk to probability for various task or projects to help aid in decision making. Feel free to provide a comment or share it with a friend! #exceltips #exceltipsandtricks #exceltutorial #doughexcel --------------------- Excel Training: https://www.exceltraining101.com/p/training.html Excel Books: https://www.amazon.com/shop/dough
Views: 219436 Doug H

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MSc in Quantitative Financial Risk Management (QFRM) develops the mathematical skills needed to make sound risk management decisions in the ever-changing financial markets. Graduates with such skills are highly desirable to employers who, typically, have developed their "rocket-science" based pricing systems and now want to focus on managing the risks of using them. Hear more in our film and visit our website for more details: www.postgraduate.hw.ac.uk/courses/view/288/

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Views: 286 Harry Hall

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Quantitative risk analysis (QRA) allows us to determine the combined effect of risk on objectives. But many people are afraid to use it, thinking that it's a step too far. David explains when and why we should include QRA in our risk process.
Views: 679 RiskDoctorVideo

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Project Management Assignment 1
Views: 2919 syahirah shaari

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WELCOME TO CISA-THIS-MUCH, A ONE STOP SOLUTION FOR CISA ASPIRANTS WHERE WE WILL DISCUSS COMPLETE THEORY WITH Q&A
Views: 188 CISA-THIS-MUCH

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This series of videos help in understanding the PMBOK and all the concepts that are geared towards helping you have a better understanding of the processes and knowledge areas. These videos provide a deeper understanding. Project Management Professional (PMP) is a credential offered by the Project Management Institute (PMI).
Views: 1908 PMP Training

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A planning tool you can you in every aspect of your life. You have to be honest with yourself and have a realistic outlook for this to work.
Views: 53261 The Immortal

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Views: 77 Harry Hall

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Now that we are clear of certain basic security definitions such as threat, vulnerability, asset and risk and their relationship along with the concepts they represent. We are ready to dive in a little bit deeper in the subject. Actually, Risk assessment is a tool for risk management by which we identify threats and vulnerabilities and assess the possible impact on asset to determine where to implement security safeguards. There are different standardized methodologies when it comes to carrying out risk assessment. But each of the methodologies has the same basic core components. (Identify threats and vulnerabilities and associate them with the assets to calculate likelihood and business impact) The approaches to risk assessment can be quantitative or qualitative or sometimes mix of the two. A quantitative risk assessment uses monetary and numeric values to all elements of the risk assessment process be it asset, threat, vulnerability, impact or safeguards. It is more of a scientific or mathematical approach compared to Qualitative. On the other hand, a qualitative risk assessment does not assign numbers and monetary values to components and loses. Instead, it is more opinion and scenario based and uses a rating system to relay the risk levels. Since a purely quantitative assessment is close to impossible and a purely qualitative process does not provide enough statistical data for financial decisions, these two assessment techniques can be fused together in a hybrid approach. Each method has its advantages and disadvantages. The goal of either method is to estimate a company’s real risk so that the correct countermeasures can be put into place within a practical budget. Now that we know, what is a risk assessment and the approaches to it. In the next video we will be starting with the SRA process.
Views: 1598 Let's Uncomplicate

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20 minute video showing how I believe a matrix should be used as a tool to support the risk assessment process. I am very interested in your comments, and willing to adapt the presentation if necessary
Views: 62295 Andy Brazier

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The video show basic concepts behind Monte Carlo project schedule risk analysis. Based on example of very simple project schedule this video demonstrates Monte Carlo sampling process. The video also shows basics steps of Monte Carlo simulation for the precedence network. The results of a Monte Carlo schedule risk analysis can be thought of as a risk adjusted project schedule. Risk adjusted project schedules can be created using mean duration, start and finish time, or a particular percentile of statistical distributions for start, finish time, and duration. It is very convenient to show a risk adjusted project schedule alongside the original deterministic (no uncertainties) project schedule. Both schedules can be shown on a single Gantt chart. Monte Carlo offers a universal method to analyze your schedule. It does not matter what combination of tasks you have and what distributions they have, Monte Carlo will be able to calculate an accurate, if probabilistic, answer. About Intaver Institute: Intaver Institute Inc. develops project risk management and project risk analysis software. Intaver's flagship product is RiskyProject: project risk management software. RiskyProject integrates with Microsoft Project, Oracle Primavera, other project management software or can run standalone. RiskyProject comes in three configurations: RiskyProject Lite, RiskyProject Professional, and RiskyProject Enterprise. http://www.intaver.com/
Views: 34876 Intaver Institute Inc.

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Simplilearn Solutions (Global R.E.P. ID 3147) (http://www.simplilearn.com) provides project management training through a blended learning model of classroom training and online learning. Simplilearn Free Resources : Free PMP, ITIL, Six Sigma Tests http://www.simplilearn.com/simplilearn/free-resources PMP certification training workshops in the United States: http://www.simplilearn.com/simplilearn/events/pmp-training-usa PMP online training courses start from \$57.99 onwards: http://www.simplilearn.com/simplilearn/pmp_exam/online-courses Transcripts for Project Risk Management, Perform Quantitative Risk Analysis: Quantitative Risk Analysis is the process of quantitatively analyzing the risk data. Remember, this should only be done if it's worth spending the time and effort analyzing the risk; else, it's better to move from Qualitative Risk analysis to Risk Response planning, which is the next step in Risk management.Usually, Quantitative Risk Analysis is done for highest risk on the project to further investigate them.So the updated list of Risk Register is the input to Quantitative Risk Analysis.The numerical quantitative risk data is usually collected by analyzing past project data or by expert judgment. Sometimes numerical data are also used for simulation and one of the simulation techniques is Monte Carlo Analysis.For example, using Monte Carlo Analysis you can check if the project is executed 100 times, what is the probability of completing the project on a specific date. Similar analysis can be done for the risk as well.Numerical data also helps in using Decision tree concept to objectively analyze project risks and impact.But again let me emphasize that, quantitative risk analysis should only be done when it's worth doing it. Usually large multi year project may require quantitative risk analysis.The output of this process is the quantified list of prioritized risks. Along with this, some times the amount of contingency reserve in terms of time and cost is also calculated as part of this process.
Views: 6474 SimplilearnTraining

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In this video, the first step (developing model logic) in a quantitative risk analysis is described. Please subscribe to this You Tube channel (Engineering Management Academy) for weekly updated videos about engineering and project management related topics. 10.6084/m9.figshare.4046811

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An overview of Phast Risk, a comprehensive software tool for quantitative risk analysis and assessment. This demonstration video shows how, with simple inputs of process conditions and information about your site and surroundings, Phast Risk performed discharge, dispersion, flammable and toxic effect calculations. Providing you with information on the severity of your hazards and combining effect results together into individual and societal risk results. Contact [email protected] to learn more.

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Risk analyses tool

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PMP- PMBOK - Quantitative Risk Analysis - Sensitivity Analysis using Tornado Diagram PMP® Certification Training: http://www.pmexpertinc.com/ www.pmexpertgroup.com For more updates on courses and tips follow us on: - Facebook :https://www.facebook.com/pmexpertinc/ -
Views: 3608 Pankaj Sharma

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PMP Training & Certification provided Online from USA industry expert trainers with real time project experience. This video is a Video recording of a Live Webinar presentation done by our Sr. PMP Trainer who is also a Manager. COURSE PAGE: https://www.zarantech.com/pmp-training/ REGISTER FOR FREE LIVE DEMO: http://promo.zarantech.com/free-webinar-pmp/ CONTACT: +1 (515) 309-7846 (or) Email - [email protected] Get More Free Videos - Subscribe ➜ https://goo.gl/5ZqDML "pmp tutorial" "free pmp training" "online pmp training" "Best pmp training" "pmp training for Beginners" "Best pmp Training" Reviews / Testimonials from past trainees are saying: https://goo.gl/ZVfnE4 Refer your friends to ZaranTech - http://www.zarantech.com/be-a-friend-tell-a-friend. -~-~~-~~~-~~-~- Please watch: "High Demand for SAP HANA 2.0 Certified Consultants | HANA 2.0 Training | HANA 2.0 for Beginners" https://www.youtube.com/watch?v=PO7MPIVxEhg -~-~~-~~~-~~-~- Whatsapp: http://bit.ly/2uSFzuJ
Views: 681 ZaranTech

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Risk Assessment - Qualitative Risk Assessment
Views: 2 NEXT Campus

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This short video shows the process of probabilistic scheduling as a part of quantitative risk analysis. Microsoft Project and @Risk Palisade can analyse different what-if scenarios if there is uncertainty in project tasks. Please subscribe to this You Tube channel (Engineering Management Academy) for weekly updated videos about engineering and project management related topics. http://dx.doi.org/10.6084/m9.figshare.4054884

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Views: 66 Andrew Molnar

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Views: 155 E-Managerial

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The growing need for an efficient worldwide airspace system management, generated by an increasing traffic load, requires new capabilities for air-ground data communication technologies. For more details access: http://bit.ly/saeinternational-new-video
Views: 122 SAE International

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This short video shows the sixth (final) step in a quantitative risk analysis: Analysis and interpretation of Monte Carlo Simulation results. Please subscribe to this You Tube channel (Engineering Management Academy) for weekly updated videos about engineering and project management related topics. 10.6084/m9.figshare.4054722

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Understand the differences between qualitative and quantitative Schedule Risk Analysis and why results around risk prioritisation may differ.
Views: 512 Dave Hammal

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