How can I analyze risk effects?
risk effects analysis
Analyzing effects starts by answering what actually happens if a risk occurs. A description of the effects helps to judge if a risk is viewed too positively or negatively.
Analyses can have a qualitative or quantitative nature. Qualitative analysis researches the effects and their relationships. Quantitative analyses express effects in numbers. This is possible if you research the effects on project costs or project schedule.
Qualitative Effect Analysis
he following questions help to perform a qualitative analysis:
- What effects take place immediately after a risk occurs?
- What effects only occur after a certain period of time has passed?
- What effects are the results of effects that occurred earlier?
You can determine the project aspects that an effect impacts.
Quantitative Effect Analysis
Some effects can be expressed quantified and expressed in numbers. This is the case with project costs and time (project schedule, man hours).
ProjectFuture enables you to express each effect in monetary terms.