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risk cost calculation
Posted: Thu Feb 26, 2015 10:38 am
I entered cost of risk in Risk Information Dialog when I double clicked on risk ID in rish register. It is a potential cost of risk. Expected cost of risk is calculated by multiplying potential cost of risk on probability of risk before mitigation. I have two questions:
1. How can I see expected cost of risk after mitigation? I also want to calculate expected cost of all risks after mitigation in risk summary dialog?
2. Can I calculate expected cost of risk after mitigation?
Re: risk cost calculation
Posted: Thu Feb 26, 2015 10:47 am
1. We don't calculate expected cost of risk after mitigation. We are planning to do it version 7
2. Risk cost is entered as a result of qualitative analysis. Currently it is not linked to quantitative analysis. However we are planning to do so in version 7. Version 7 will have option to get potential loss (potential cost of risk) from Monte Carlo simulation of project schedule or from manual entry. Not all project schedules have cost defined and RiskyProject allows to perform risk analysis without project schedule. So we will have two options to enter potential loss.