Скачать или смотреть What is Expected Monetary Value (EMV)? | Expected Monetary Value (EMV) Calculation with Examples

What is Expected Monetary Value (EMV)? In this video, we will demonstrate how to calculate the Expected Monetary Value (EMV) of a given example. The video also includes the benefits and limitations of Expected Monetary Value (EMV). We also explore the concept of expected value and its application in decision analysis. Understanding the EMV formula PMP is crucial for effective project management. This involves risk assessment to aid in making informed decisions.

00:00 - Intro
00:08 - Expected Monetary Value (EMV) description
00:44 - How to calculate the Expected Monetary Value (EMV)?
01:03 - Expected Monetary Value (EMV) example
01:37- Benefits of Expected Monetary Value
02:15- Limitations of Expected Monetary Value

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Expected monetary value analysis is a statistical concept that calculates the average outcomes when the future includes the scenarios that may or may not happen.
It is an important concept in project risk management which is used for all types of projects to make a quantitative risk analysis.

How to Calculate the Expected Monetary Value in 3 Steps?

1. Calculate the probability of occurrence of each risk.
2. Calculate the impact of each risk as a monetary value
3. Multiply the probability by impact

The decision tree analysis provides a template to calculate the Expected monetary value of each risk.

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#decisiontree #decisionmaking #riskmanagement #riskanalysis #pmpexamprep