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CAPM · Question #16

Which of the following tasks is related to the Perform Qualitative Risk Analysis process?

The correct answer is D. Prioritize each project risk and assign the probability of occurrence and impact for each one. Perform Qualitative Risk Analysis focuses on prioritizing risks by assessing and assigning the probability of occurrence and the impact for each identified risk.

Predictive Plan-Based Methodologies

Question

Which of the following tasks is related to the Perform Qualitative Risk Analysis process?

Options

  • AIdentify the project risks and assign a probability of occurrence
  • BPerform a sensitivity analysis to determine which risk has the most potential for impacting the project
  • CAnalyze the effect of identified project risks as numerical data
  • DPrioritize each project risk and assign the probability of occurrence and impact for each one

How the community answered

(37 responses)
  • A
    8% (3)
  • B
    3% (1)
  • C
    3% (1)
  • D
    86% (32)

Why each option

Perform Qualitative Risk Analysis focuses on prioritizing risks by assessing and assigning the probability of occurrence and the impact for each identified risk.

AIdentify the project risks and assign a probability of occurrence

Identifying project risks and assigning probability of occurrence describes the Identify Risks process, not Qualitative Risk Analysis.

BPerform a sensitivity analysis to determine which risk has the most potential for impacting the project

Sensitivity analysis, such as a tornado diagram, is a technique used in Perform Quantitative Risk Analysis to determine which risks have the greatest potential impact numerically.

CAnalyze the effect of identified project risks as numerical data

Analyzing the effect of risks as numerical data describes Perform Quantitative Risk Analysis, which applies numerical methods such as Monte Carlo simulation to quantify risk exposure.

DPrioritize each project risk and assign the probability of occurrence and impact for each oneCorrect

The primary output of Perform Qualitative Risk Analysis is a prioritized list of project risks, which is produced by assessing each risk's probability of occurrence and its potential impact on project objectives. This process uses a probability and impact matrix to rank risks subjectively, allowing the team to focus attention and resources on the most significant risks. It is considered a rapid, low-cost, and subjective approach compared to quantitative analysis.

Concept tested: Perform Qualitative Risk Analysis purpose and activities

Source: https://www.pmi.org/pmbok-guide-standards/foundational/pmbok

Topics

#Risk Management#Qualitative Risk Analysis#Project Risk#PMBOK Processes

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