Which process uses occurrence probability and impact on project objectives to assess the priority ISEB ISEB-PM1 Exam of identified risks?

Question

Options

• ARisk identification
• BQualitative risk analysis
• CRisk management planning
• DQuantitative risk analysis

• A
  9% (3)
• B
  82% (28)
• C
  3% (1)
• D
  6% (2)

Explanation

Qualitative risk analysis is the process that assesses risks by combining their probability of occurrence with their impact on project objectives, producing a priority ranking that guides which risks deserve further attention or response planning.

• A (Risk identification) is wrong because that process only finds and documents risks - it doesn't evaluate or prioritize them.
• C (Risk management planning) is wrong because it establishes the overall framework and approach for how risk will be handled, not the actual assessment of individual risks.
• D (Quantitative risk analysis) is wrong because it uses numerical data and statistical modeling (e.g., Monte Carlo simulations, expected monetary value) to mathematically analyze risk - it goes deeper than probability/impact ratings and typically follows qualitative analysis.

Memory tip: Think of "qualitative" as using descriptive scales (High/Medium/Low) for probability and impact - it's the quick, subjective prioritization pass. "Quantitative" means numbers and math. If the question mentions probability × impact grids or rating matrices, that's always qualitative.

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