11.3 Perform Qualitative Risk Analysis (Proj. Risk MGMT) Flashcards
what is 11.3 perform qualitative risk analysis? (2)
- the process of prioritizing individual project risks for further analysis or action
- by assessing their probability of occurrence and impact as well as other characteristics
what is the key benefit of 11.3 perform qualitative risk analysis?
focuses efforts on high priority risks
when is 11.3 perform qualitative risk analysis performed during a project?
throughout
11.3 perform qualitative risk analysis - inputs (4)
- project management plan (risk management plan)
- project documents (3)
- EEF’s
- OPAs
what project document inputs are relevant to 11.3 perform qualitative risk analysis? (3)
a. assumption log
b. risk register
c. stakeholder register
what EEF’s are relevant inputs to 11.3 perform qualitative risk analysis? (2)
- industry studies of similar projects
2. published material, including commercial risk databases or checklists
what OPA’s are relevant inputs to 11.3 perform qualitative risk analysis? (1)
information from similar completed projects
what data representation tools and techniques are relevant to 11.3 perform qualitative risk analysis? (2)
a. probability and impact matrix
b. hierarchical charts
11.3 perform qualitative risk analysis - outputs (1)
- project document updates (4)
what is risk data quality assessment?
evaluates the degree to which the data about individual project risks is accurate and reliable as a basis for qualitative risk analysis
what is risk probability and impact assessment? (2)
- considers the likelihood that a specific risk will occur
2. considers the potential effect on one or more project objectives
what project document updates are relevant to 11.3 perform qualitative risk analysis? (4)
a. assumption log
b. issue log
c. risk register
d. risk report
what are hierarchical charts?
utilized where risks have been categorized using more than 2 parameters (ex. bubble chart)
