PFMP · Question #488
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. You are currently assessing risk against…
The correct answer is D. Weighted Ranking and Scoring Techniques. Weighted Ranking and Scoring Techniques involve evaluating risks against a set of predefined criteria (e.g., probability, impact, strategic alignment, urgency), assigning weights to each criterion, and producing a score that enables classification and prioritization of risks…
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. You are currently assessing risk against multiple criteria and classifying them as part of developing the risk management plan. Which of the below reflects what you are doing?
Options
- AQuantitative and Qualitative analysis
- BGraphical Analytical methods
- CCategorizing Risks
- DWeighted Ranking and Scoring Techniques
How the community answered
(18 responses)- A6% (1)
- B6% (1)
- D89% (16)
Explanation
Weighted Ranking and Scoring Techniques involve evaluating risks against a set of predefined criteria (e.g., probability, impact, strategic alignment, urgency), assigning weights to each criterion, and producing a score that enables classification and prioritization of risks. This is the standard PMI-recognized technique when multiple criteria are used simultaneously to rank and classify risks. Quantitative and Qualitative Analysis (A) refers to broader analysis phases. Graphical Analytical Methods (B) produce visual outputs like tornado diagrams. Categorizing Risks (C) is a sub-activity of risk analysis but does not involve multi-criteria scoring. The multi-criteria, scoring-based classification described maps directly to Weighted Ranking and Scoring Techniques.
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