PMI-RMP Certification Training - Sensitivity Analysis

The video tutorial explains sensitivity analysis, focusing on how it assesses the impact of uncertainty in project elements. It introduces tornado diagrams as a tool for comparing risks and highlights the limitations of sensitivity analysis in evaluating risk combinations. The tutorial also covers what-if analysis, emphasizing its use in understanding variable impacts on projects. An example of a tornado diagram is provided, illustrating how it ranks risks based on uncertainty levels.

What is the primary focus of sensitivity analysis in project management?

• Determining the overall project duration

• Predicting the probability of risk events

• Evaluating the uncertainty of each project element individually

• Assessing the interaction of all project variables

Which tool is commonly used in sensitivity analysis to compare the impact of variables?

• Gantt Chart

• PERT Chart

• Fishbone Diagram

• Tornado Diagram

How does sensitivity analysis help in project management?

• By reducing the overall project cost

• By predicting future market trends

• By analyzing the impact of changing business parameters

• By ensuring all project tasks are completed on time

What does a tornado diagram illustrate in sensitivity analysis?

• The cost breakdown of a project

• The communication plan for a project

• The degree of uncertainty in project tasks

• The sequence of project tasks

In a tornado diagram, where are tasks with the highest uncertainty placed?

• At the bottom

• In the middle

• At the top

• Outside the diagram