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Risk Management

Posted: Thu Aug 21, 2014 2:03 pm
by taterarpit
What is not true about the sequence in risk knowledge area?

A.Plan risk management- identify risks- perform qualitative risk analysis- perform quantitative risk analysis- plan risk responses – control risks – close risks

B.Plan risk management- identify risks- perform qualitative risk analysis- perform quantitative risk analysis- plan risk responses- control risks

C.Plan risk management- identify risks- perform qualitative risk analysis-plan risk responses – control risks

D.None of the above


When we talk about PMI it says assume that proper project management has been done ...so in this question nothing has been provided which says that QUANTITATIVE is not required. Again may be i am thinking too much or not thinking at all :-) Need an explanation as why D is not correct?

Re: Risk Management

Posted: Thu Aug 21, 2014 9:32 pm
by umeshbww
I think Best Answer is A. REASON - there is no process called Close Risks in Risk KA

In PMBOK pg 335 perform quantitative risk analysis - it says
"In some cases, it may not be possible to execute the perform quantitative risk analysis process due to lack of sufficient data to develop appropriate models."

Lack of sufficient data is not associated with IMPROPER project management - it depends on nature/type of project.
Option B and C are both possible processes sequence in Risk KA.

Thanks for Q; I learned myself something new today.

Re: Risk Management

Posted: Fri Aug 22, 2014 5:15 am
by signor_rk
I do agree with Umesh. Nice explanation.

Re: Risk Management

Posted: Fri Aug 22, 2014 5:23 am
by namita
Agree and happy to see clear concepts coming out of the discussions