Subtitles of the Movie

In this movie we'll pick up where we left off with a review of the Workbook Exercises on Question 19, and we last reviewed characteristic 11 so we'll pick up with 12. Characteristic 12 says: Used to determine which risk events have the greatest potential impact on the project objectives. This refers to Sensitivity Analysis, A. This is also the purpose of the technique. Thirteen says: Typically performed using software. This refers to Modeling and Simulation, and more specifically the Monte Carlo technique. This is because of the complex calculations used and also the number of potential scenarios that are simulated. It would be nearly impossible to do this by hand. Characteristic 14 says: Calculates the average outcome of future scenarios that may or may not occur, and this refers to EMV, Expected Monetary Value Analysis, B. Again, this could be confused with Decision Trees, and you can see why Decision Trees are lumped in with EMV since they are typed closely together. Fifteen says: Measures the effects of a project element on a project objective when all other elements are held at their baseline values. This refers to Sensitivity Analysis, A. It goes through what-if scenarios, changing one element at a time. Sixteen says: Requires a risk neutral assumption. The answer is B, Expected Monetary Value Analysis, EMV. This was a note included within the PMBOK Guide and this is the Risk Attitude, specifying that a risk neutral attitude is an assumption that's needed as opposed to a risk-seeking or risk averse attitude. Characteristic 17 says: Results are frequently displayed as cumulative distributions. This refers to Modeling and Simulation, D, and more specifically the results of the Monte Carlo technique. And our last characteristic says: A technique that changes a single element at a time to measure the potential impact of a risk. This is Sensitivity Analysis, A. Remember that it measures the effects of a project element on a project objective, which is the element being changed when all other elements are held at their baseline values. That was the final characteristic to review, bringing this move and section to a close.