qualitative and quantitative merits in project management
Not what you're looking for?
After identifying risks, ranking is critical to resource allocation. This allows for the identification of critical risks. Risk assessment is just as important, if not more important, to risk identification. In addition to qualitative risk assessment such as SWOT, Delphi Technique, and brainstorming, quantitative risk assessment such as EVM and Pareto Analysis can also be conducted.
•If you are conducting a risk assessment for a project, how much value can you put on EVM and the Pareto Analysis and why?
•What are the merits and demerits of qualitative and quantitative risk management techniques?
Purchase this Solution
Solution Summary
Discussions about the value of qualitative and quantitative methods of evaluating projects.
Solution Preview
•If you are conducting a risk assessment for a project, how much value can you put on EVM and the Pareto Analysis and why?
Since both are involved with the time management costs and the value to the company, they are very important. If a company only did projects based on qualitative reasons, they might find themselves losing more money because the project is good, the exposure is good, the project is a budget ...
Purchase this Solution
Free BrainMass Quizzes
Learning Lean
This quiz will help you understand the basic concepts of Lean.
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media