Fred is the project manager of the CPS project. He is working with his project team to prioritize the identified risks within the CPS project. He and the team are prioritizing risks for further analys

The correct answer is B. Perform qualitative analysis. Qualitative risk analysis is the process of prioritizing risks for further analysis or action by assessing and combining each risk's probability of occurrence and its impact on project objectives. This is done using tools like the Probability and Impact Matrix, risk urgency asses

Security and Privacy Governance, Risk Management, and Compliance Program

Question

Fred is the project manager of the CPS project. He is working with his project team to prioritize the identified risks within the CPS project. He and the team are prioritizing risks for further analysis or action by assessing and combining the risks probability of occurrence and impact. What process is Fred completing?

Options

ARisk identification
BPerform qualitative analysis
CPerform quantitative analysis
DRisk Breakdown Structure creation

How the community answered

(34 responses)

B
94% (32)
C
3% (1)
D
3% (1)

Explanation

Qualitative risk analysis is the process of prioritizing risks for further analysis or action by assessing and combining each risk's probability of occurrence and its impact on project objectives. This is done using tools like the Probability and Impact Matrix, risk urgency assessment, and risk categorization. It is a subjective, relatively quick process compared to quantitative analysis. Quantitative analysis (Choice C) would involve numerical modeling of those risks. Risk identification (Choice A) precedes both analysis processes. A Risk Breakdown Structure (Choice D) is a hierarchical grouping of risk categories, not a prioritization process.

Topics

#Risk management#Qualitative risk analysis#Risk prioritization#RMF process

Community Discussion

No community discussion yet for this question.

Full CAP Practice