Nancy is the project manager of the NHH project.
She and the project team have identified a significant risk in the project during the qualitative risk analysis process.
Bob is familiar with the technology that the risk is affecting and proposes to Nancy a solution to the risk event.
Nancy tells Bob that she has noted his response, but the risk really needs to pass through the quantitative risk analysis process before creating responses.
Bob disagrees and ensures Nancy that his response is most appropriate for the identified risk.
Who is correct in this scenario?
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A. B. C. D.D.
The correct answer is B: Nancy is correct. Because Nancy is the project manager, she can determine the correct procedures for risk analysis and risk responses. In addition, she has noted the risk response that Bob recommends.
In the scenario, Nancy and the project team have identified a significant risk during the qualitative risk analysis process. This is the first step in the risk management process, where risks are identified, assessed, and prioritized based on their likelihood and potential impact.
Bob proposes a solution to the risk event based on his knowledge of the technology involved. However, Nancy recognizes that the risk needs to pass through the quantitative risk analysis process before creating responses. This is the next step in the risk management process, where risks are analyzed in more detail using numerical methods, such as probability and statistical analysis, to determine the likelihood and potential impact of the risk.
It is important to note that while qualitative risk analysis provides an initial understanding of risks, it is not enough to determine the most appropriate risk response. Quantitative risk analysis provides a more accurate and detailed understanding of the risks, which helps in developing more effective risk responses.
Therefore, Nancy is correct in insisting that the risk needs to pass through the quantitative risk analysis process before creating responses. As the project manager, she has the authority and responsibility to determine the correct procedures for risk analysis and risk responses. Bob's input is valuable, but it should be considered in the context of the overall risk management process. Nancy has noted Bob's response and can take it into account when developing the risk response plan after the quantitative risk analysis process is complete.