You are the project manager of the GHQ project for your company. You are working with your project team to prepare for the qualitative risk analysis process. Mary, a project team member, does not understand why you need to complete qualitative risks analysis. You explain to Mary that qualitative risks analysis helps you determine which risks needs additional analysis. There are also some other benefits that qualitative risks analysis can do for the project. Which one of the following is NOT an accomplishment of the qualitative risk analysis process?
A.
Prioritization of identified risk events based on probability and impact
B.
Cost of the risk impact if the risk event occurs
C.
Corresponding impact on project objectives
D.
Time frame for a risk response
Explanation:
The cost of the risk impact is only completed during quantitative analysis, and not during qualitative analysis.
Answer options A, C, and D are incorrect. These are the characteristics of qualitative risk analysis.
Reference: "Project Management Body of Knowledge (PMBOK Guide), Fourth Edition"