Scenario Analysis, Branching, and Decision Trees

Lev Virine and Michael Trumper

Chapter 12 in Project Risk Analysis Made Ridiculously Simple, 2017, pp 173-180 from World Scientific Publishing Co. Pte. Ltd.

Abstract: When we manage projects, we often need to evaluate different scenarios and make decisions based on different objectives. Each scenario may have different risks and uncertainties and scenario analysis may help to analyze the effectiveness of mitigation and response plans as well as calculate the cost of risks. Decision trees and branching are decision analysis processes which can be used as part of scenario analysis.

Keywords: Project Management; Risk Management; Risk Analysis (search for similar items in EconPapers)
JEL-codes: D81 G32 (search for similar items in EconPapers)
Date: 2017
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