Limitations of Checklist Analysis Approach for Project Managers
Question
Gary is the project manager of his organization.
He is managing a project that is similar to a project his organization completed recently.
Gary has decided that he will use the information from the past project to help him and the project team to identify the risks that may be present in the project.
Management agrees that this checklist approach is ideal and will save time in the project.
Which of the following statement is most accurate about the limitations of the checklist analysis approach for Gary?
Answers
Explanations
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A. B. C. D.A.
Gary's approach to use the information from a past project to identify risks through a checklist analysis is a common and often effective approach. However, there are some limitations to this approach that Gary should be aware of.
Answer A: The checklist analysis approach is fast but it is impossible to build an exhaustive checklist. This answer is correct. While checklists are useful for identifying potential risks based on past experiences, they are not exhaustive. There is always the possibility of new risks emerging that were not present in the past project. Furthermore, checklists are only as good as the information and knowledge available at the time of their creation. As new risks or information become available, the checklist may need to be updated to reflect these changes.
Answer B: The checklist analysis approach only uses qualitative analysis. This answer is not accurate. The checklist analysis approach can use both qualitative and quantitative analysis depending on the items on the checklist. For example, some risks may be more easily quantified, such as the likelihood and impact of a certain event occurring. Other risks may be more difficult to quantify, such as reputational damage to the organization.
Answer C: The checklist analysis approach saves time, but can cost more. This answer is not accurate. The purpose of the checklist analysis approach is to save time by using past experiences to identify potential risks quickly. There should be no additional cost associated with this approach, other than the time and effort required to create and maintain the checklist.
Answer D: The checklist is also known as top-down risk assessment. This answer is not accurate. While a checklist can be used in a top-down risk assessment approach, the two concepts are not interchangeable. A top-down risk assessment approach typically involves identifying high-level risks and then drilling down to specific risks and controls. A checklist approach is more focused on identifying specific risks based on past experiences and best practices.
In summary, while the checklist analysis approach is a useful tool for identifying potential risks quickly, it is important to recognize its limitations. The checklist is not exhaustive, and new risks may emerge that were not present in the past project. Additionally, the checklist approach can use both qualitative and quantitative analysis, and it should not cost more to implement.
