PMI-RMP Qualitative Risk Analysis 2 — Questions and Answers
Question 1: A project manager assigns each identified risk a probability score of 1-5 and an impact score of 1-5, then multiplies them. What technique is being used?
- Probability and impact matrix (Correct answer)
- Decision tree analysis
- Monte Carlo simulation
- Expected monetary value analysis
Correct answer: Probability and impact matrix
Multiplying probability and impact scores to prioritize risks is the core of the probability and impact matrix used in qualitative analysis.
Question 2: During qualitative risk analysis, a risk's probability could not be reliably estimated because the data source was unverified. What should the team assess?
- The reserve analysis
- The quality of the risk data (Correct answer)
- The risk appetite of stakeholders
- The schedule baseline
Correct answer: The quality of the risk data
Data quality assessment evaluates the accuracy and reliability of data used to analyze risks qualitatively.
Question 3: Which output is primarily updated as a result of performing qualitative risk analysis?
- Project charter
- Risk register (Correct answer)
- Cost baseline
- Stakeholder register
Correct answer: Risk register
Qualitative analysis updates the risk register with priority rankings, categorization, and watchlist items.
Question 4: A team groups risks by their root causes to determine which areas of the project are most exposed. What is this called?
- Risk urgency assessment
- Risk categorization (Correct answer)
- Risk reassessment
- Risk audit
Correct answer: Risk categorization
Risk categorization groups risks by sources, affected areas, or causes to reveal concentrations of exposure.
Question 5: Risks requiring near-term responses are flagged as more important during analysis. Which factor drives this prioritization?
- Risk impact only
- Risk urgency (Correct answer)
- Risk probability only
- Risk owner availability
Correct answer: Risk urgency
Risk urgency assessment prioritizes risks that need a response soon, often combined with the probability-impact rating.
Question 6: A stakeholder who is risk-averse rates the same impact level higher than a risk-tolerant stakeholder. What does this illustrate?
- Data precision error
- The subjective bias inherent in qualitative analysis (Correct answer)
- A flaw in the risk register
- Quantitative uncertainty
Correct answer: The subjective bias inherent in qualitative analysis
Qualitative analysis relies on subjective judgment, so perceptions and biases can influence ratings.
Question 7: After qualitative analysis, a low-priority risk is placed on a list for periodic monitoring with no immediate action. What is this list called?
- Watchlist (Correct answer)
- Issue log
- Assumption log
- Change log
Correct answer: Watchlist
Low-priority risks are added to a watchlist for ongoing monitoring rather than active response.
PMI-RMP Qualitative Risk Analysis 2
A project manager assigns each identified risk a probability score of 1-5 and an impact score of 1-5, then multiplies them.
What technique is being used?