Risk Probability Distribution

A risk probability distribution is a tool that shows how likely different outcomes are for a particular risk. It maps out the range of possible scenarios, from best to worst, and assigns a probability to each. This helps organizations understand the likelihood of various events happening, allowing them to plan and prepare accordingly. For example, it might show that there's a 20% chance of a minor delay, a 50% chance of a moderate delay, and a 30% chance of a major delay. Essentially, it helps visualize and quantify uncertainty to support better decision-making.