How do you go about standardizing the dispersion of a probability distribution to make generalizations about the

Question:

How do you go about "standardizing" the dispersion of a probability to make generalizations about the risk of a project?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...