In this video, I answer the question, what is Expected Monetary Value, EMV? And we look at its use in risk management and decision theory.

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Basic EMV
EMV = Likelihood x Cost Impact

Complex EMV
EMV = P1 x C1 + P2 x C2 + P3 x C3 …
EMV = ∑[Pi x Ci]

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⏱ Chapter Markers...
00:00 What is Expected Monetary Value (EMV)?
00:13 Risk and Risk Measurement
01:25 Expected Value of a Risk
01:44 Expected Monetary Value Simple
02:09 Expected Monetary Value Complex
03:38 EMV for Decision Analysis
04:31 Summary of Expected Monetary Value

#RiskManagement #ProjectManagement #ExpectedMonetaryValue