Encyclopedia category
Risk
3 entries in Risk.
Showing 3 of 3 · sorted by a–z
Letter M · Updated 2026-06-22
Monte Carlo Simulation
A probabilistic technique that runs thousands of randomised iterations of a model to produce distributions of cost and schedule outcomes.
Letter Q · Updated 2026-06-29
Quantitative Risk Analysis
The numerical analysis of identified project risks to estimate their combined effect on cost and schedule — typically using probabilistic models such as Monte Carlo simulation.
Letter R · Updated 2026-06-22
Risk Management
The structured identification, analysis, response planning, and ongoing monitoring of uncertain events that could affect project objectives.