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Oliver 175 - 65th Question

jyotimayank
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Oliver 175 - 65th Question

Postby jyotimayank Tue Jan 10, 2017 11:38 am

Question 65

During risk identification sessions, you and your team identified more than 150 risks for your project. You are afraid that evaluating each of these risks
quantitatively will cost you an enormous amount of time, while not all of them are really relevant and important enough to justify such a measure. What should
you do next?

A. Identify risk triggers where possible. Analyze only those risks quantitatively for which no trigger could be found.
B. Use qualitative risk analysis in order to prioritize risks for further action, such as quantitative risk analysis.
C. Assess the probability of each risk qualitatively and further analyze only those risks with high probability.
D. Assess the potential impact of each risk qualitatively and further analyze only those risks with high impact.
Jyoti Gupta
PMP Mentor & Coach

iZenbridge Consultancy Pvt Ltd
jyotimayank
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Posts: 502
Joined: Mon Mar 09, 2015 6:01 am

Re: Oliver 175 - 65th Question

Postby jyotimayank Fri Jan 13, 2017 9:27 am

The correct answer is option B.

Refer to page 328 of PMBOK® Guide 5th Edition

The Perform Qualitative Risk Analysis process involves determining what impact the identified risks will have on the project objectives and the probability they’ll occur. It also ranks the risks in priority order according to their effect on the project objectives. This helps the team determine whether Perform Quantitative Risk Analysis should be performed or whether you can skip right to developing response plans.. The Perform Qualitative Risk Analysis process should be performed throughout the project. This process is the one you’ll find you’ll use most often when prioritizing project risks because it’s fast, relatively easy to perform, and cost effective. The PMBOK® Guide notes that you should identify and manage the risk attitudes of those assisting with this process, and if bias is introduced, you should evaluate it and correct it if necessary.

You can refer to the following link for more insight of this topic
http://www.izenbridge.com/videogallery/ ... pproaches/
Jyoti Gupta
PMP Mentor & Coach

iZenbridge Consultancy Pvt Ltd

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