A project team is identifying, rating the probability of, and determining the impact on potential problems throughout the project. The team is also including the corresponding actions to take. Which…

The correct answer is C. Risk planning. Risk planning involves identifying potential risk events that could occur during the project, determining their probability of occurrence, and determining their impact on the project. Probability is always expressed as a number between 0.0 and 1.0. Risk response plans should be…

Project management concepts

Question

A project team is identifying, rating the probability of, and determining the impact on potential problems throughout the project. The team is also including the corresponding actions to take. Which of the following activities does this describe?

Options

ARisk identification
BRisk quantification
CRisk planning
DRisk qualification

How the community answered

(63 responses)

A
5% (3)
B
8% (5)
C
86% (54)
D
2% (1)

Explanation

Risk planning involves identifying potential risk events that could occur during the project, determining their probability of occurrence, and determining their impact on the project. Probability is always expressed as a number between 0.0 and 1.0. Risk response plans should be developed for those risks that have a high probability of occurrence, have a significant impact on the project if they occur, or have an overall risk score that is high.

Topics

#risk planning#risk probability#risk impact#risk response

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