Perform Qualitative Risk Analysis Flashcards
Planning
What is the purpose to Perform Qualitative Risk Analysis?
The process of prioritizing risks for further analysis or action by assessing their combined probability of occurrence and impact. (Sets priorities by ranking high, medium, or low)
What is Risk Probability Assessment (Asses)?
Tool/technique that investigates the likelihood that each specific risk will occur.
What is Probability and Impact Matrix (Plot)?
Tool/technique that assigns a risk rating to each rick. (Numeric or high, medium, or low)
What is Risk Data Quality Assessment (Verify Data)?
Tool/technique to evaluate the degree to which the data about risks is useful for risk management.
What is Risk Categorization?
Tool/technique in grouping by category.
What is Risk Urgency Assessment?
Tool/technique in which ricks requiring near-term responses may be considered more urgent to address.
What outputs are the 2 projects Document Updates in to Performing Qualitative Risk Analysis?
Risk Register Update and Assumption Log Update
What is Watch Lists and during which process is the Watch List created?
Low priority risks and Perform Qualitative Risk Analysis
Who specifies risk-rating rules in most cases?
The performing organization.
When and why are risk-rating rules specified in the project?
Either in advance of the project or during risk planning, to bring objectivity to the process.
