During which of the following processes, probability and impact matrix are prepared?
A.
Risk response
B.
Monitoring and Control Risk
C.
Quantitative risk assessment
D.
Qualitative risk assessment
Explanation:
The probability and impact matrix is a technique to prioritize identified risks of the project on their
risk rating, and are being prepared while performing qualitative risk analysis. Evaluation of each
risk’s importance and, hence, priority for attention, is typically conducted using a look-up table or a
probability and impact matrix. This matrix specifies combinations of probability and impact that
lead to rating the risks as low, moderate, or high priority.
Answer C is incorrect. SLE, ARO and ALE are used in quantitative risk assessment.
impact matrix is prepared during the qualitative risk analysis for further quantitative analysis and
response based on their risk rating.