Risk Analysis – Quantitative, modeling techniques

Sensitivity Analysis
Sensitivity Analysis helps determine which risks have the most impact on a project. A typical display of sensitivity is the tornado diagram, which compares the importance of variables having high uncertainty to those that are more stable.

Expected Monetary Value
Expected Monetary Value (EMV) calculates average outcomes on uncertain future scenarios. The EMV of opportunities the higher number is probably the best outcome. However, when threats are evaluated, perhaps the lower number (minimum risk) is best.

Decision Tree Analysis
Decision Tree Analysis is a common use of EMV analysis. It incorporates the cost of each available choice, the probabilities in each path, and the outcomes. Solving the decision tree provides the EMV for each alternative.