Della works as a project manager for SoftTech Inc. She is working with the project stakeholders to begin the quantitative risk analysis process. Which of the following inputs will be needed for the…

Question

Options

• ARisk management plan
• BProject scope statement
• CRisk register
• DCost management plan

• A
  90% (38)
• B
  10% (4)

Explanation

The correct inputs for the Quantitative Risk Analysis process (per PMBOK) are the Risk Management Plan (A), Risk Register (C), and Cost Management Plan (D). The Risk Management Plan defines how risk activities will be conducted, including the approach to quantitative analysis. The Risk Register contains the list of identified risks and results from qualitative analysis that are prioritized for further quantitative analysis. The Cost Management Plan provides the structure and controls for cost estimates, which are critical since quantitative analysis often involves numerical cost and schedule impact modeling (e.g., Monte Carlo simulation, Expected Monetary Value). The Project Scope Statement (B) is an input to the Qualitative Risk Analysis process, not specifically to Quantitative Risk Analysis. Additional standard inputs include the Schedule Management Plan and organizational process assets.

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