CSSLP Question #10: Real Exam Question with Answer & Explanation

Question

You work as a project manager for BlueWell Inc. You are working on a project and the management wants a rapid and cost-effective means for establishing priorities for planning risk responses in your project. Which risk management process can satisfy management's objective for your project?

Options

• AQualitative risk analysis
• BHistorical information
• CRolling wave planning
• DQuantitative analysis

Explanation

Qualitative risk analysis is the most rapid and cost-effective method for establishing priorities for planning risk responses, as it relies on subjective assessment and ranking of risks.

Common mistakes.

• B. Historical information serves as an input for risk identification and analysis but is not a distinct risk management process for prioritizing responses.
• C. Rolling wave planning is a project planning technique involving progressive elaboration, not a risk management process for prioritizing risks.
• D. Quantitative risk analysis numerically analyzes the effect of risks on project objectives, which is more time-consuming and costly due to its reliance on statistical analysis and modeling.

Concept tested. Qualitative risk analysis in project management

Reference. https://www.pmi.org/learning/library/qualitative-vs-quantitative-risk-analysis-7058

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