Assessment
Risk assessments using tables, grids, and matrices are similar to those used for qualitative risk analysis, substituting the actual probability percentages and numerical estimates of impact for the ranges and categories. Matrices using numerical data are generally replaced by two-dimensional graphs. Because impact may be estimated in cost, schedule, and other possible units, more than one representation may be necessary.
For simple projects, a quick inspection of the plan using the risk assessments will reveal the risks most likely to cause the most damage. For more complex projects, sensitivity analysis, done using a copy of the schedule data entered into a software tool for project management, is a fast way to identify risks (and ...
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