Inputs for Qualitative Risk Analysis | SoftTech Inc.
Question
You work as a project manager for SoftTech Inc.
You are working with the project stakeholders to begin the qualitative risk analysis process.
Which of the following inputs will be needed for the qualitative risk analysis process in your project? Each correct answer represents a complete solution.
(Choose three.)
Answers
Explanations
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A. B. C. D.ACD.
The primary goal of qualitative risk analysis is to determine proportion of effect and theoretical response.
The inputs to the Qualitative Risk Analysis process are: -> Organizational process assets -> Project Scope Statement -> Risk Management Plan -> Risk Register Incorrect Answers: B: The cost management plan is the input to the perform quantitative risk analysis process.
Qualitative risk analysis is the process of prioritizing risks based on their probability of occurrence and impact on project objectives. The purpose of this process is to identify, analyze, and evaluate risks to determine their impact on the project and develop appropriate response plans. To conduct the qualitative risk analysis process, there are several inputs required. These inputs are:
A. Project scope statement: The project scope statement defines the project's objectives, deliverables, and requirements. It provides the project team with a clear understanding of the project's boundaries and objectives, which are essential for identifying and assessing risks.
B. Cost management plan: The cost management plan provides the project team with guidelines on how to manage the project's budget. This is important for identifying and assessing risks that may impact the project's cost, such as cost overruns or unforeseen expenses.
C. Risk register: The risk register is a document that contains all the identified risks for the project, along with their probability of occurrence, impact, and potential response plans. It is a critical input for the qualitative risk analysis process as it provides a starting point for the analysis.
D. Organizational process assets: Organizational process assets are any documented procedures, templates, and guidelines that are used within the organization to manage projects. They are important inputs for the qualitative risk analysis process as they provide information on how to manage risks within the organization and may contain lessons learned from previous projects.
In summary, to conduct the qualitative risk analysis process, the project team requires inputs such as the project scope statement, cost management plan, risk register, and organizational process assets. These inputs provide the necessary information and guidelines for identifying, analyzing, and evaluating risks to determine their impact on the project and develop appropriate response plans.
