Which process involves prioritizing risks based on their probability and impact of occurrence?Group of answer choicesidentifying risksperforming qualitative risk analysisperforming quantitative risk analysisplanning risk responses
Question
Which process involves prioritizing risks based on their probability and impact of occurrence?Group of answer choicesidentifying risksperforming qualitative risk analysisperforming quantitative risk analysisplanning risk responses
Solution
The process that involves prioritizing risks based on their probability and impact of occurrence is "performing qualitative risk analysis". This process involves assessing and combining the impact and likelihood of potential risks to prioritize them. This helps in focusing on the high-priority risks during the risk response planning stage.
Similar Questions
Mention two Inputs, Tools & Techniques, and the Outputs of each of these processes involved in risk management:Identify RisksImplement Risk Responses
During which phase of the risk management life cycle do you use the information you have gained about the likelihood and potential impact of risks to prioritize risks?1 pointMonitor and control the risk. Treat the risk. Analyze the risk. Identify the risk. Evaluate the risk.
The purpose of risk planning is ....Group of answer choicesincrease the probability and impact of positive eventsNo answer text provided.Bothdecrease the probability and impact of negative events
Risk _____ refers to reducing the impact of a risk event by reducing the probability of its occurrence
Risk responses are developed based upon ___.Multiple choice question.risk assessment classifications.project cost.project cost and timing.project timing.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.