You and your project team have identified the project risks and now are analyzing the probability and impact of the risks. What type of analysis of the risks provides a quick and high-level review…

The correct answer is A. Qualitative risk analysis. Qualitative risk analysis provides a rapid, high-level assessment of identified risks by evaluating their probability of occurrence and their potential impact using subjective scales (e.g., High/Medium/Low). It prioritizes risks for further action without requiring precise…

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Question

You and your project team have identified the project risks and now are analyzing the probability and impact of the risks. What type of analysis of the risks provides a quick and high-level review of each identified risk event?

Options

AQualitative risk analysis
BSeven risk responses
CQuantitative risk analysis
DA risk probability-impact matrix

How the community answered

(21 responses)

A
90% (19)
B
5% (1)
D
5% (1)

Explanation

Qualitative risk analysis provides a rapid, high-level assessment of identified risks by evaluating their probability of occurrence and their potential impact using subjective scales (e.g., High/Medium/Low). It prioritizes risks for further action without requiring precise numerical data, making it faster and less resource-intensive than quantitative analysis. Quantitative risk analysis is more detailed and numerical, using techniques like Monte Carlo simulation to assign specific probabilities and cost estimates. A probability-impact matrix is a tool used within qualitative analysis, not a separate analysis type. 'Seven risk responses' is not a recognized analysis type.

Topics

#Risk analysis#Qualitative risk analysis#Risk assessment#Project risk management

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