During a risk review session, the project team identified the percentage probability that a particular risk will occur. This is known as:

The correct answer is D. risk quantification. Perform Quantitative Risk Analysis uses the probability distributions to characterize the risk’s probability and impact. It also uses the project model (e.g., Schedule, cost estimate), mathematical and simulation tools to calculate the probability and impact.

Project management concepts

Question

Options

Arisk identification
Brisk prioritization
Crisk qualification
Drisk quantification

How the community answered

(19 responses)

B
5% (1)
C
5% (1)
D
89% (17)

Explanation

Perform Quantitative Risk Analysis uses the probability distributions to characterize the risk’s probability and impact. It also uses the project model (e.g., Schedule, cost estimate), mathematical and simulation tools to calculate the probability and impact.

Topics

#risk quantification#probability#risk analysis#risk management

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