You are the project manager of the GHG project.
You are preparing for the quantitative risk analysis process.
You are using organizational process assets to help you complete the quantitative risk analysis process.
Which one of the following is NOT a valid reason to utilize organizational process assets as a part of the quantitative risk analysis process?
Click on the arrows to vote for the correct answer
A. B. C. D.C.
Quantitative Risk Analysis is the process of numerically analyzing the effect of identified risks on overall project objectives. It involves using various techniques to assign probabilities and impact values to identified risks and then calculating the overall risk exposure of the project.
Organizational Process Assets (OPAs) refer to any documentation, tools, or knowledge that an organization has developed over time, which can be used to guide project management decisions. These assets can be very useful during the quantitative risk analysis process.
Let's review each of the options provided in the question:
A. You will use organizational process assets for risk databases that may be available from industry sources.
This is a valid reason to utilize OPAs during quantitative risk analysis. Risk databases from industry sources can provide valuable data on the likelihood and impact of risks in a given project context. Such information can be used to inform the risk probability and impact assessments during quantitative risk analysis.
B. You will use organizational process assets for studies of similar projects by risk specialists.
This is another valid reason to utilize OPAs during quantitative risk analysis. Studies of similar projects by risk specialists can provide valuable insights into the types of risks that might be expected in the current project context. Such insights can be used to inform the identification of risks and the probability and impact assessments during quantitative risk analysis.
C. You will use organizational process assets to determine costs of all risks events within the current project.
This is also a valid reason to utilize OPAs during quantitative risk analysis. OPAs can provide valuable information on the costs associated with different types of risks that might be identified during the analysis. Such information can be used to inform the overall risk exposure of the project and can help project managers to make informed decisions on risk mitigation strategies.
D. You will use organizational process assets for information from prior similar projects.
This is also a valid reason to utilize OPAs during quantitative risk analysis. Information from prior similar projects can provide valuable insights into the types of risks that might be expected in the current project context. Such insights can be used to inform the identification of risks and the probability and impact assessments during quantitative risk analysis.
Therefore, the answer to the question is that all of the provided options are valid reasons to utilize OPAs during quantitative risk analysis.