As a project manager of an aerospace company, you are leading a complex satellite assembly project. A risk has been identified where a crucial component may not be delivered by the supplier on schedule due to potential production delays. What is the FIRST quantitative risk analysis tool you should utilize to assess the potential impact on the project's schedule?
Conduct a Monte Carlo simulation to analyze the impact of delivery delays on the project schedule.
Prepare a risk impact matrix to categorize the supplier delay risk.
Create a cause-and-effect diagram to trace the roots of potential production delays at the supplier's facility.
Perform a SWOT analysis to evaluate the strength of the supplier's production capabilities.