You work as a project manager for BlueWell Inc. You would like to utilize sensitivity analysis in your project, but the management does not understand how this will be displayed. What type of chart is usually used with sensitivity analysis to show the relative affect of risks on the project?
A.
Tornado diagram
B.
GERT Chart
C.
Ishikawa chart
D.
Force field analysis chart
Explanation:
A tornado diagram is usually created when using the sensitivity analysis in project management. Tornado diagrams graphically display the result of single-or sensitivity analysis. The sensitive variable is modeled as uncertain value while all other variables are held at baseline values (stable). The diagram is shown in the image below.
The uncertainty in the parameter associated with the largest bar, the one at the top of the chart, has the maximum impact on the result, with each successive lower bar having a lesser impact. Tornado diagrams are useful for sensitivity analysis – comparing the relative importance of variables. Answer option C is incorrect. An Ishikawa diagram, also known as a cause-and-effect diagram, is not used as part of sensitivity analysis.
Answer option D is incorrect. Force field analysis is used in stakeholder analysis to chart forces, usually stakeholders, which are in favor of the project or opposed to the project. Answer option B is incorrect. A GERT chart uses branching, loop backs, and project scenarios to show advancement in the project workflow.
Reference: "Project Management Body of Knowledge (PMBOK Guide), Fourth Edition"
A