Home Chapters North Carolina Chapter

What's Not Working: Probability for the layman

May Chapter Mtg. Discussion Topic:

**What tools are available for calculating probabilities? **Especially those for companies with limited budgets supporting risk quantification?

Comments

  • @lamaddox are you looking at calculating for PoA or Contact Frequency? Here are a couple of links:

    https://www.mindtools.com/pages/article/newPPM_78.htm 'This is straight 1 -10 for quantification just for Risk Impact Probability Chart.'

    https://www.fairinstitute.org/fair-u 'Fair U would help with the Quantifications'.

    The other thing to consider if you are on a budget is using the man hours to build it out in Excel. As Excel has a add in that can be downloaded for Monte Carols - if you went this far you might as well work in the Pert Model.

    I hope some of this helps.

Sign In or Register to comment.