Assessing the pros and cons of pursuing a part icular course of action. [D00804] WST The mathematical examination of the nature of individual risks on the project, as well as potential structure s of interdependent risks. It includes the quantification of their respective impact severity, probability and sensitivity to change s in related project variables including the project life cycle. To be complete, the analysis should also include an examination of the external " status quo" prior to project implementation as well as the project's internal intrinsic worth as a reference baseline determination should also be made as to whether all risks identified are within the scope of the project's risk response planning process. [D00805] PMK87 The process of assessing the ramifications of pursuing a part icular course of action - typically a change to the existing system. [D03857] PNG
an analysis of the impact of a proposed change to a part to the sub-assemblies, assemblies, products and storage areas that are affected by the part. An impact analysis results in a bill of materials of all of the resources affected by the proposed change. This listing can then be used for project planning, estimating and scheduling purposes. In this way, it is used for "what if" analysis purposes. In IRM terms, an impact analysis results in a bill of materials of information resources affected by the change to one resource. (See Bill Of Materials Processing).
The second stage of life cycle assessment, in which the environmental impacts of a process, product, or facility are determined.