Perform Quantitative Risk Analysis is not required for all projects. Undertaking a robust analysis
depends on the availability of high-quality data about individual project risks and other sources of uncertainty,
as well as a sound underlying project baseline for scope, schedule, and cost.
Quantitative risk analysis usually requires specialized risk software and expertise in the development and interpretation of risk models.
It also consumes additional time and cost. The use of quantitative risk analysis
for a project will be specified in the project's risk management plan.
It is most likely appropriate for large or complex projects, strategically important projects, projects for which it is a contractual requirement,
or projects in which a key stakeholder requires it.
Quantitative risk analysis is the only reliable method to assess overall project risk through
evaluating the aggregated effect on project outcomes of all individual project risks and other sources of uncertainty.
Perform Quantitative Risk Analysis uses information on individual project risks that have been assessed by
the Perform Qualitative Risk Analysis process as having a significant potential to affect the project's objectives.
Outputs from Perform Quantitative Risk Analysis are used as inputs to the Plan Risk Responses process,
particularly in recommending responses to the level of overall project risk and key individual risks.
A quantitative risk analysis may also be undertaken following the Plan Risk Responses process,
to determine the likely effectiveness of planned responses in reducing overall project risk exposure.