Which tool is NOT typically used to establish weighting values in risk assessment?

Monte Carlo Simulation is primarily a computational technique used to understand the impact of risk and uncertainty in quantitative analysis and decision-making. It uses random sampling and statistical modeling to estimate the probability of different outcomes in processes that cannot easily be predicted due to the intervention of random variables.

While it is valuable for risk analysis, particularly in probabilistic assessments, it does not directly establish weighting values for risks. Weighting values in risk assessment typically involve subjective judgements or pairwise comparisons of item significance, which are more closely associated with tools like the Analytical Hierarchy Process, Bayesian techniques, and Decision Analysis. These methods provide structured frameworks for assessing and prioritizing risks based on their perceived importance or likelihood, thus making them suitable for assigning weights.

Therefore, selecting Monte Carlo Simulation as the tool not typically used to establish weighting values is appropriate, given its different focus on stochastic analysis rather than the qualitative weighting and prioritization of risks.