PFMP · Question #461
Managing risk is key to the success of any initiative. Risk is considered to be inherent in any activity we do in project management and at any level. Risk is part of project, program and portfolio…
The correct answer is B. Weighted Ranking and scoring techniques, Quantitative & Qualitative Analysis. This question tests knowledge of the tools and techniques used in portfolio risk management, specifically for identifying, assessing, and developing risk response plans.
Question
Managing risk is key to the success of any initiative. Risk is considered to be inherent in any activity we do in project management and at any level. Risk is part of project, program and portfolio management and has a different exposure in each and every one. Multiple risks have already been spotted in your portfolio and you are now identifying, assessing and developing risk response plans for them, in addition to monitoring and controlling them. What are you looking for? You were finding this hard at first however you asked the help from a senior portfolio manager and he redirected you to use
Options
- AWeighted Ranking and scoring techniques, Portfolio Component inventory, Categorization
- BWeighted Ranking and scoring techniques, Quantitative & Qualitative Analysis
- CCapability & Capacity, Weighted Ranking and scoring techniques, Graphical Analytical methods,
- DWeighted Ranking and scoring techniques, Graphical Analytical Methods, Quantitative &
How the community answered
(23 responses)- A4% (1)
- B83% (19)
- C4% (1)
- D9% (2)
Why each option
This question tests knowledge of the tools and techniques used in portfolio risk management, specifically for identifying, assessing, and developing risk response plans.
Portfolio Component Inventory and Categorization are tools used in portfolio component identification and management, not in risk response plan development.
In portfolio risk management, Weighted Ranking and Scoring techniques are used to prioritize risks based on their relative significance to strategic objectives. Quantitative and Qualitative Analysis together form the core analytical methods for assessing the probability and potential impact of identified risks. These two tool categories directly support the full cycle of risk identification, assessment, and response planning described in the PMI Standard for Portfolio Management.
Capability and Capacity Analysis belongs to resource management processes, and Graphical Analytical Methods are not a primary listed tool for portfolio risk management.
Graphical Analytical Methods are not a standard tool specifically prescribed for portfolio risk management processes in the PMI Standard for Portfolio Management.
Concept tested: Portfolio risk management tools and techniques
Source: https://www.pmi.org/pmbok-guide-standards/foundational/standard-for-portfolio-management
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