USING MATHEMATICAL MODELLING AND SOFTWARE PROGRAMMING IN PROJECT RISK MANAGEMENT

Abstract

The study describes the existing methods for quantitative and qualitative risk analysis and risk assessment software. The field of mathematical modelling is very much developing in economics, allow-ing for more in-depth research. Risk management also requires accurate justification of decisions about the importance of risk, which is made possible by accurate quantitative calculations, including mathematical modelling. The decision-making process within the project is based on the results of visual analysis, i.e., the study of the risk profile and the cumulative risk profile derived from the simulation. This research shows that quantitative risk methods in the project manager's toolkit are helpful in ob-taining complex calculations, but risk management cannot currently exclude the role of a project risk manager from the risk assessment pro-cess.