Each question has to be; coherent and cohesive, a minimum of 200 words and you have to cite one sources. This is a Project Risk Management Course
· 1. Discuss the integration of risk analysis and cost-estimating procedures in the context of quantitative cost analysis for a project.
· 2. Compare the advantages and disadvantages of defining distributions in terms of histograms or ‘smooth’ distribution forms.
· 3. Discuss the benefits of using spreadsheets and tools like @Risk for quantitative risk modeling.
· 4. Why are dependence and correlation important in quantitative risk models?
· 5. What will determine the amount of detail included in a model?
· 6. What could it mean if a model’s outputs present a different picture from that expected by the project team?
· 7. What are the main differences between modelling schedule uncertainty and schedule planning, and what are their implications?
· 8. Discuss three different approaches to building a quantitative schedule risk model, and their advantages and disadvantages.