PMI-RMP · Question #69
You are the project manager of the GHQ project for your company. You are working with your project team to prepare for the qualitative risk analysis process. Mary, a project team member, does not…
The correct answer is D. Cost of the risk impact if the risk event occurs. Qualitative risk analysis assesses risks using non-numeric methods to prioritize them by probability and impact. Its outputs include: prioritization of identified risks (Choice C), assessment of the corresponding impact on project objectives (Choice A), and identification of…
Question
You are the project manager of the GHQ project for your company. You are working with your project team to prepare for the qualitative risk analysis process. Mary, a project team member, does not understand why you need to complete qualitative risks analysis. You explain to Mary that qualitative risks analysis helps you determine which risks needs additional analysis. There are also some other benefits that qualitative risks analysis can do for the project. Which one of the following is NOT an accomplishment of the qualitative risk analysis process?
Options
- ACorresponding impact on project objectives
- BTime frame for a risk response
- CPrioritization of identified risk events based on probability and impact
- DCost of the risk impact if the risk event occurs
How the community answered
(44 responses)- A2% (1)
- C5% (2)
- D93% (41)
Explanation
Qualitative risk analysis assesses risks using non-numeric methods to prioritize them by probability and impact. Its outputs include: prioritization of identified risks (Choice C), assessment of the corresponding impact on project objectives (Choice A), and identification of time frames for a risk response (Choice B). However, calculating the actual cost of a risk impact if the risk event occurs is a function of quantitative risk analysis, not qualitative. Quantitative methods (like EMV calculations or Monte Carlo simulations) assign numerical values to risk costs and probabilities. Qualitative analysis is descriptive and prioritization-focused, not cost-quantification-focused.
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