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Unformatted text preview: impact on project objectives should they occur. The impact scale is organizationally defined for example, a one to five scale, with five being the highest impact on project objectives - such as budget, schedule, or quality. A qualitative risk analysis will also include the appropriate categorization of the risks, either source-based or effect-based. A quantitative risk analysis is a further analysis of the highest priority risks during which a numerical or quantitative rating is assigned in order to develop a probabilistic analysis of the project. A quantitative analysis quantifies the possible outcomes for the project and assesses the probability of achieving specific project objectives, provides a quantitative approach to make decisions when there is uncertainty, and creates realistic and achievable cost, schedule or scope targets....
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This note was uploaded on 02/28/2012 for the course ECON EC311 taught by Professor Zahid during the Spring '12 term at ITT Tech San Dimas.
- Spring '12