You and your project team have identified the project risks and now are analyzing the probability and impact of the risks. What type of analysis of the risks provides a quick and high-level review of each identified risk event?
Suggested Answer:B🗳️
Qualitative risk analysis is a high-level, fast review of the risk event. Qualitative risk analysis qualifies the risk events for additional analysis.
B. Qualitative risk analysis. This type of analysis prioritizes risks according to their likelihood and potential impact on the project objectives, without quantifying them numerically. It provides an opportunity for subjective judgments from stakeholders to inform the process and help frame subsequent steps in risk response planning. A quantitative risk analysis involves numerical estimates, simulations or modeling techniques for a more rigorous examination of project risks; while a probability-impact matrix considers both probability (likelihood) and impact (consequence), typically using a four-quadrant chart that makes it easy to visualize and prioritize risks. The seven-risk responses are associated with the process of dealing with risks once they have been analyzed as part of a broader Risk Management Plan.
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