Decision Tree Analysis for calculating Expected Monetary Value (EMV) | Decision Tree Example
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- Опубліковано 7 вер 2024
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This is the highest level of understanding one can get from any lecture on Decision Tree (EVA) as Quantitative Risk Analysis and Modelling Technique. Thank you, PMC Lounge, for this succinct lecture.
I believe we can use this technique in Appraising or making decisions on Investment to identify opportunities and threats, Risk Assessment to determine contingency reserve or savings to arrive at the Cost Baseline, and float to arrive at schedule Basiline especially where a Critical Chain model is used instead of a Critical Path model. All focused-on Risk Management.
Thank you so much for your thoughtful and positive feedback! I'm delighted to hear that you found the lecture on Decision Tree (EVA) from PMC Lounge to be comprehensive and valuable.
It's fantastic that you're connecting the dots between the technique and its applications in various domains. Indeed, Decision Tree analysis can be a powerful tool in risk management, and your insights into its potential use in investment decisions, risk assessment, contingency planning, and schedule baseline development demonstrate a deep understanding of its versatility.
If you have any more questions or if there's a specific topic you'd like to explore further, feel free to reach out. And don't forget to subscribe for more content - your engagement and enthusiasm are much appreciated! 🌟📊
This is a perfect explanation of this tool and technique for Quantitative Risk Analysis, thanks for your efforts
Glad you found the video useful, Bashar. Don't forget to subscribe for more content
Cleared my PMP on Monday thank you very much for your structured playlists on each knowledge areas 🇿🇦
Excellent! Big congrats! 🙂👍
The cost of a new server or upgrade is listed twice in the Total EMV result. Both results for a new server will be spent just once the respective cost. Why did it enter again in total EMV?
It is not listed twice. Total EMV = Cost of new IT Server + Best Case Scenario + Worst Case Scenario
I am really new at this and loved your VOD. I could use a detailed explanation of how you came up with the probabilities. I am not good at math so please dumb it down for me. I am trying to replicate this process and I am stuck there. Thank you
Thanks for sharing your feedback. We are happy you liked it. If you have a specific decision tree scenario you'd like to work on, please feel free to share more details, and I'd be happy to provide more guidance. You're doing great by seeking to understand and replicate this process - keep it up! 🌳🤓📊
THANK YOU SO MUCH!!!!!!!!!!!
You're welcome Nadira. Don't forget to subscribe 😊👍
thanks for video
Most welcome Rovshan. We have more videos on Project Management, so do consider subscribing 😊👍
Thanks a lot !!
Hey Bhushan, mention not! Don't forget to subscribe for more 👍😊
helpuful
Thanks Shekhar, appreciate it 👍
How do you calculate EMV in a construction based project
Hi Chandy, the calculation of EMV isn't dependent on the kind of project. The method applies across all industries and projects. Don't forget to subscribe for more 👍