What is the first step in preparing the risk register?

Question

Options

• AQualitative risk analysis
• BQuantitative risk analysis
• CRisk response planning
• DRisk identification

• A
  12% (4)
• B
  6% (2)
• C
  3% (1)
• D
  79% (26)

Explanation

Risk identification (D) is the first step because you cannot manage risks you haven't discovered yet - the risk register is literally created during this process by documenting all potential risks, their characteristics, and their owners.

Why the distractors are wrong:

• A (Qualitative risk analysis) comes after identification - you can only assess probability and impact once risks have been listed.
• B (Quantitative risk analysis) is a deeper numerical analysis that follows qualitative analysis, making it even further down the process.
• C (Risk response planning) is the last major step - you plan responses only after you've identified and analyzed risks.

Memory tip: Think of the risk management process as a funnel - you must find risks (Identify) → score them (Qualitative/Quantitative) → act on them (Response Planning). You can't score or respond to something you haven't found first. The acronym I-Q-Q-R (Identify, Qualitative, Quantitative, Response) keeps the order straight.

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