impact analysis

The mathematical examination of the nature of individual risks on the project, as well as potential structures of interdependent risks. It includes the quantification of their respective impact severity, probability and sensitivity to changes 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. A determination should also be made as to whether all risks identified are within the scope of the project's risk response planning process.

SOURCE: apm.com”