PMI-RMP · Question #480
A project is evaluating a new software to streamline the current purchase order process. The current process is labor-intensive and involves printing, ink signatures, scanning, and emailing. Several t
The correct answer is D. Perform a risk data quality assessment. Before using data in any quantitative or qualitative risk analysis, the quality of that data must be assessed. A risk data quality assessment (D) evaluates the accuracy, completeness, reliability, and integrity of the data - ensuring it is suitable for decision-making. Since the
Question
A project is evaluating a new software to streamline the current purchase order process. The current process is labor-intensive and involves printing, ink signatures, scanning, and emailing. Several team members gathered cycle time data to gauge the current process and evaluate the new process. What should the risk manager do next with the data set?
Options
- APerform a probability and impact assessment
- BPerform Monte Carlo simul-ations
- CPerform a sensitivity analysis
- DPerform a risk data quality assessment
How the community answered
(20 responses)- A5% (1)
- B5% (1)
- C10% (2)
- D80% (16)
Explanation
Before using data in any quantitative or qualitative risk analysis, the quality of that data must be assessed. A risk data quality assessment (D) evaluates the accuracy, completeness, reliability, and integrity of the data - ensuring it is suitable for decision-making. Since the data was gathered by 'several team members' using an ad hoc process, its consistency and reliability are unknown. Options A (probability and impact assessment), B (Monte Carlo simulations), and C (sensitivity analysis) are all valid analytical techniques, but they all depend on trustworthy input data. Using poor-quality data in these analyses would produce unreliable results. The quality assessment must come first to validate that the data is fit for use.
Topics
Community Discussion
No community discussion yet for this question.