Which of the following documents is described in the statement below? "It is developed along with all processes of the risk management.
It contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning."
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A. B. C. D.C.
Risk register is a document that contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning.
Risk register is developed along with all processes of the risk management from Plan Risk Management through Monitor and Control Risks.
Incorrect Answers: A: The quality management plan is a component of the project management plan.
It describes how the project team will implement the organization's quality policy.
The quality management plan addresses quality control (QC), quality assurance (QA), and continuous process improvement for the project.
Based on the requirement of the project, the quality management plan may be formal or informal, highly detailed or broadly framed.
B: Risk management plan includes roles and responsibilities, risk analysis definitions, timing for reviews, and risk threshold.
The Plan Risk Responses process takes input from risk management plan and risk register to define the risk response.
D: The project charter is the document that formally authorizes a project.
The project charter provides the project manager with the authority to apply organizational resources to project activities.
The document that is described in the statement is the Risk Management Plan, option B.
The Risk Management Plan is a formal document that is developed along with all processes of the risk management. It outlines the approach, methodology, roles and responsibilities, and tools and techniques used to manage risks throughout the project or program. The plan provides a framework for identifying, assessing, analyzing, responding, and monitoring risks in a structured manner.
The Risk Management Plan also contains the results of the qualitative risk analysis, quantitative risk analysis, and risk response planning. Qualitative risk analysis assesses the likelihood and impact of identified risks, whereas quantitative risk analysis assigns a numerical value to those risks to estimate the probability of occurrence and the potential impact on project objectives. Risk response planning involves developing strategies to mitigate, transfer, avoid or accept risks based on the analysis performed.
The other options provided are not suitable answers for this question. The Quality Management Plan is a document that describes how quality will be managed and assured during a project, program or process. The Risk Register is a document that contains the list of identified risks, their assessment, and their potential impact on project objectives. Finally, the Project Charter is a high-level document that outlines the project objectives, scope, and stakeholders. Although the Project Charter may mention risks, it does not describe the approach and methodology for managing risks.