• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Project Management Knowledge

Simply explained by a PMI-certified Project Manager

  • Home
  • Acronyms and Abbreviations
  • Definitions
  • About the Author
  • Deutsch
  • Show Search
Hide Search
You are here: Home / Definitions / E / Expected Monetary Value Analysis

Expected Monetary Value Analysis

The phrase expected monetary value analysis refers to a specific analytical technique in which a calculation is made to determine the average of all potential outcomes when the future includes a number of particular scenarios that may or may not ultimately happen. These scenarios can all be interpreted as potential happening individually, or they may happen in varying multitudes. One common utilization of this technique takes place within a technique such as decision tree analysis. It is also recommended that a project team utilize simulations and modeling when conducting a cost and/or a schedule risk analysis because it is in reality significantly more powerful and is typically subject to less erroneous application than other analytical methods such as monetary value analysis. The expected monetary value analysis, which also can be referred to by the anagram EMV. Can be conducted at any point in the life cycle of a project but should be done as early as possible.

This term is defined in the 3rd and the 4th edition of the PMBOK.

Related Articles:

 
  • Quantitative Risk Analysis and Modelling Techniques  The Quantitative Risk Analysis and Modelling Techniques are used to help identify which risks have the most influence on the...
  •  
  • What-if Scenario Analysis  Anything can happen in project management. The unexpected situations does not only catch the project team off-guard but it also...
  •  
  • Quantitative Risk Analysis  The concept of quantitative risk analysis is of fundamental importance when it comes to the need for the project management...
  •  
  • Network Analysis  See schedule network analysis. This term is defined in the 3rd and the 4th edition of the PMBOK. Get free...
  •  
  • Qualitative Risk Analysis  The concept of qualitative risk analysis is of fundamental importance when it comes to the need for the project management...
  • Primary Sidebar

    Dear Visitor, I am a PMP (Project Management Professional), certified by the Project Management Institute since 2004. I have been managing dozens of projects, small and huge, successful and unsuccessful. This site is supposed to help you learn the required vocabulary of the project management world. Please feel free to check my certification status or to learn more about me.

    Copyright © 2021

    • Privacy Policy