Examining Probability Scales for Project Risks
LAST UPDATED ON: 26TH AUGUST, 2019
Probability Scales are one of the tools that can be used for a Project. When it comes to risk management for a project.
Probability scales are graphs showing the assignment of value to the likelihood of a risk occurring. They are designed using a variety of values such as linear, non-linear, or an ordinal scale using relative probability value ranging from very unlikely to almost certain.
A risk probability score also ranges in value from 0.0 (no probability) to 1.0 (certainty).
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