Question: Topic: Formal Wedding Plan Describe a data analysis quantitative risk analysis technique such as simulation, sensitivity analysis, decision tree analysis, or influence diagram. Discuss how

Topic: Formal Wedding Plan

Describe a data analysis quantitative risk analysis technique such as simulation, sensitivity analysis, decision tree analysis, or influence diagram. Discuss how you would use this technique to determine numerical values for your risks. You do not have to perform the quantitative risk analysis but should discuss the steps in detail.

Describe the strategies that you will use to respond to each risk that you have identified.

Category / Risk

Budget - Going over budget

Budget - Wedding planner issues

Budget - Unplanned costs/weather delays

Budget - Cost-saving opportunities

Budget - Off-season discounts

Budget - Unexpected deals/coupons

Schedule - Wedding delays

Schedule - Wedding planner issues

Schedule - Vendor availability

Schedule - Early completion

Schedule - Weekday discounts

Vendors - Vendor performance

Vendors - Vendor availability

Vendors - Above and beyond services

Vendors - Sales/discounts

Vendors - Vendor referrals

Guests - Attendance uncertainty

Guests - RSVP delays

Guests - Uninvited guests

Guests - Higher attendance

Guests - Generous gifts

Guests - Offer to help

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