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?
Click on the arrows to vote for the correct answer
A. B. C. D.A.
The schedule management plan is an important input for the quantitative risk analysis process because it provides information about the project schedule, which is a key element of the project's overall plan.
Quantitative risk analysis is the process of numerically analyzing the likelihood and impact of identified risks on project objectives, including cost, schedule, and quality. The schedule management plan provides important information that is required for the quantitative risk analysis process.
Answer A is incorrect because the schedule controls alone are not sufficient for quantitative risk analysis. Answer B is also incorrect because the schedule management plan is not used to schedule when identified risks are likely to happen; instead, it provides information on the project schedule that can be used to assess the potential impact of risks on the project schedule.
Answer C is the correct answer. Mary will use the schedule controls to determine how risks may be allowed to change the project schedule. The schedule management plan includes information about the project's critical path, which is the sequence of activities that must be completed on time in order for the project to be completed on schedule.
Mary can use this information to analyze the impact of identified risks on the project schedule. For example, if a risk is identified that could potentially delay a critical path activity, Mary can use the schedule management plan to determine the potential impact of that delay on the overall project schedule. This can help her to prioritize risks and determine the best course of action to mitigate them.
Answer D is incorrect because the schedule management plan is not used to schedule risk identification meetings throughout the remaining project. While risk identification meetings are an important part of the risk management process, the schedule management plan does not provide information on when these meetings should be held. Instead, it provides information on the project schedule that can be used to assess the impact of identified risks on the project timeline.