PMI-RMP Qualitative Risk Analysis 3 — Questions and Answers
Question 1: Why is qualitative risk analysis typically performed before quantitative risk analysis?
- It is more accurate
- It quickly screens and prioritizes risks for deeper analysis (Correct answer)
- It eliminates the need for a risk register
- It calculates exact cost impacts
Correct answer: It quickly screens and prioritizes risks for deeper analysis
Qualitative analysis is a fast, low-cost screen that prioritizes which risks warrant detailed quantitative analysis.
Question 2: A probability and impact matrix uses color-coded zones. What does the red zone typically represent?
- Low-priority risks
- Opportunities only
- High-priority risks needing attention (Correct answer)
- Closed risks
Correct answer: High-priority risks needing attention
Red zones in a P-I matrix indicate high-priority risks requiring prompt management attention.
Question 3: Which document defines the scoring scales and matrix thresholds used during qualitative analysis?
- Risk management plan (Correct answer)
- Project scope statement
- Communications plan
- Procurement plan
Correct answer: Risk management plan
The risk management plan establishes probability and impact definitions and the matrix configuration.
Question 4: A risk is assessed as both an opportunity and a threat depending on outcome. How should qualitative analysis handle it?
- Ignore the opportunity side
- Assess probability and impact for the relevant effect type (Correct answer)
- Convert it to an issue
- Remove it from the register
Correct answer: Assess probability and impact for the relevant effect type
Qualitative analysis assesses probability and impact for both threats and opportunities using appropriate scales.
Question 5: Hierarchical charts like bubble charts can display risks using how many dimensions in qualitative-related representation?
- One dimension
- Two dimensions
- Three dimensions (Correct answer)
- Five dimensions
Correct answer: Three dimensions
Bubble charts plot three parameters, such as detectability, proximity, and impact value, in a single view.
Question 6: What is the main benefit of categorizing risks by Risk Breakdown Structure (RBS) during qualitative analysis?
- It assigns dollar values
- It reveals concentrations of risk by source (Correct answer)
- It replaces the probability scale
- It schedules the responses
Correct answer: It reveals concentrations of risk by source
Using the RBS for categorization highlights which categories or sources carry the most risk exposure.
Question 7: Two risks have identical probability and impact scores, but one is far easier to detect early. Which assessment helps differentiate them?
- Detectability assessment (Correct answer)
- Cost-benefit analysis
- Reserve analysis
- Earned value analysis
Correct answer: Detectability assessment
Detectability assesses how easily a risk's occurrence can be identified in time to respond, refining prioritization.
PMI-RMP Qualitative Risk Analysis 3
Why is qualitative risk analysis typically performed before quantitative risk analysis?