CSSLP Question #309: Real Exam Question with Answer & Explanation

Question

Gary is the project manager for his project. He and the project team have completed the qualitative risk analysis process and are about to enter the quantitative risk analysis process when Mary, the project sponsor, wants to know what quantitative risk analysis will review. Which of the following statements best defines what quantitative risk analysis will review?

Options

• AThe quantitative risk analysis process will analyze the effect of risk events that may substantially
• BThe quantitative risk analysis reviews the results of risk identification and prepares the project for
• CThe quantitative risk analysis seeks to determine the true cost of each identified risk event and the
• DThe quantitative risk analysis process will review risk events for their probability and impact on the

Explanation

Quantitative risk analysis evaluates the potential impact of high-priority risks on project objectives using numerical techniques to determine the overall effect on the project.

Common mistakes.

• B. This statement describes a phase that generally precedes quantitative risk analysis, focusing on identifying risks and preparing for further analysis, not the quantitative analysis itself.
• C. While cost is an aspect of risk impact, quantitative risk analysis encompasses broader effects on project objectives (e.g., schedule, performance) and not solely the 'true cost' of each event in isolation.
• D. This statement is incomplete; while it mentions probability and impact, quantitative analysis specifically focuses on the overall effect on the project and the potential for substantial impact, not just a general review of probability and impact which is also done qualitatively.

Concept tested. Project quantitative risk analysis

Reference. https://www.pmi.org/learning/library/project-risk-management-processes-risk-assessment-6060

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