Mary is the project manager for the BLB project.
She has instructed the project team to assemble, to review the risks.
She has included the schedule management plan as an input for the quantitative risk analysis process.
Why is the schedule management plan needed for quantitative risk analysis?
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A. B. C. D.B.
The controls within the schedule management plan can shape how quantitative risk analysis will be performed on the schedule.
Schedule management plan also describes how the schedule contingencies will be reported and assessed.
Incorrect Answers: A: When risks are likely to happen is important, but it is not the best answer for this question C: This is not a valid answer for this question throughout the project, but it is not scheduled during the quantitative risk analysis process.
D: Risks may affect the project schedule, but this is not the best answer for the question.
The correct answer is D. Mary will utilize the schedule controls to determine how risks may be allowed to change the project schedule.
The schedule management plan is a key input for the quantitative risk analysis process in project management because it provides important information about the project schedule, including key milestones, timelines, and dependencies between tasks.
During quantitative risk analysis, project managers use tools and techniques to numerically analyze the potential impact of identified risks on project objectives, such as cost, schedule, and scope. By including the schedule management plan as an input, project managers can determine how risks may impact the project schedule and use the schedule controls to manage those risks appropriately.
For example, if a high-priority risk is identified during the quantitative risk analysis process that could impact the project schedule, the project manager can use the schedule management plan to determine how much schedule flexibility is available to accommodate the risk. If the risk cannot be accommodated without impacting the project schedule, the project manager may need to adjust the project schedule or identify additional resources to help mitigate the risk.
In summary, the schedule management plan is an important input for the quantitative risk analysis process in project management because it allows project managers to use the schedule controls to determine how identified risks may impact the project schedule and to manage those risks appropriately.