A project team has completed the risk identification steps in a project and compiled a list of 25 risks. The team wants to create response plans for all the risks to avoid any future issues, but the r

The correct answer is B. Perform a qualitative risk analysis.. Qualitative risk analysis is the appropriate tool when resources are constrained and risks must be prioritized. By scoring each of the 25 risks on probability and impact scales, the risk manager produces a ranked, prioritized list that allows the team to focus limited response-pl

Perform Targeted Risk Analysis

Question

A project team has completed the risk identification steps in a project and compiled a list of 25 risks. The team wants to create response plans for all the risks to avoid any future issues, but the resources and constraints limit the options. What should the risk manager do?

Options

APerform a sensitivity analysis.
BPerform a qualitative risk analysis.
CPerform a constraint analysis.
DPerform a root-cause analysis.

How the community answered

(46 responses)

A
11% (5)
B
83% (38)
C
4% (2)
D
2% (1)

Explanation

Qualitative risk analysis is the appropriate tool when resources are constrained and risks must be prioritized. By scoring each of the 25 risks on probability and impact scales, the risk manager produces a ranked, prioritized list that allows the team to focus limited response-planning resources on the highest-priority risks first. Sensitivity analysis (A) is a quantitative technique used to determine which risks most affect a specific project objective - it requires more data and comes after prioritization. Constraint analysis (C) examines project constraints, not risk priority. Root-cause analysis (D) is used to understand why a risk exists or why an issue occurred, not to prioritize a list of risks for response planning.

Topics

#Qualitative Risk Analysis#Risk Prioritization#Risk Management Process#Resource Constraints

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