How to Use Expected Monetary Value (EMV)
What is the EMV? A budget for risk contingency planning must be created so that organizations are prepared in the event that a risk may not be managed in the proper manner. Risk management can be thought of as the process which can be used to successfully indentify and deal with project risks. In most cases, the goal of an organization should be to either get rid of risks, or reduce the impact of a risk should it actually occur. At the same time, there is always the possibility that…
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