Question

Calculate Risk Estimate

  • 3 October 2022
  • 1 reply
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Does anybody know the formula  in Risk Analysis for “Calculated Risk Estimate” based on 3-point method in IFS?

 


1 reply

Userlevel 4
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Hi @womich,

For 3 – Point Analysis, Calculated Cost = weighted average of Min, Most Likely and Max

The weighted average is equal to [(Min estimate) x (Analysis Min Weight Factor) + (Most Likely estimate) x (Analysis Norm Weight Factor) + (Max estimate) x (Analysis Max Weight Factor)] / [(Analysis Min Weight Factor) + (Analysis Norm Weight Factor) + (Analysis Max Weight Factor)]

Hope this will helps you. If you have further concerns please raise a community question to Products (Manufacturing, Products, Engineering)

 

Best Regards,

Bimsara

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