quantitative risk analysis techniques
The tools and techniques used to quantify the effect of risks on the objectives and targets of an organization and assign them a numerical rating, such as interviews and surveys, probability distribution, sensitivity analysis, risk modelling and simulation, cause and effect matrix, failure mode and effects analysis (FMEA), cost risk analysis and schedule risk analysis.
Also called: quantitative risk analysis, quantitative risk analysis methods
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1Definition from ESCO, published by the European Commission. Source concept
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