CAP · Question #180
You are the project manager of the NNN project for your company. You and the project team are working together to plan the risk responses for the project. You feel that the team has successfully…
The correct answer is D. Quantitative risk analysis. After risk responses have been planned, Quantitative Risk Analysis is repeated to measure the overall residual project risk numerically and determine whether the planned responses have sufficiently reduced the project's exposure to acceptable levels. Quantitative analysis uses…
Question
You are the project manager of the NNN project for your company. You and the project team are working together to plan the risk responses for the project. You feel that the team has successfully completed the risk response planning and now you must initiate what risk process it is. Which of the following risk processes is repeated after the plan risk responses to determine if the overall project risk has been satisfactorily decreased?
Options
- ARisk identification
- BQualitative risk analysis
- CRisk response implementation
- DQuantitative risk analysis
How the community answered
(46 responses)- A4% (2)
- B11% (5)
- C2% (1)
- D83% (38)
Explanation
After risk responses have been planned, Quantitative Risk Analysis is repeated to measure the overall residual project risk numerically and determine whether the planned responses have sufficiently reduced the project's exposure to acceptable levels. Quantitative analysis uses numerical techniques (e.g., Monte Carlo simulation, expected monetary value) to evaluate the aggregate impact of risks on project objectives such as cost and schedule. Re-running this analysis after planning responses validates whether the risk reduction is adequate. Qualitative analysis is used earlier to prioritize risks. Risk identification is an earlier process. Risk response implementation is not a separate iterative analysis process but the execution of planned responses.
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