Della works as a project manager for SoftTech Inc. She is working with the project stakeholders to begin the quantitative risk analysis process. Which of the following inputs will be needed for the quantitative risk analysis process in her project? Each correct answer represents a complete solution. Choose all that apply.

1. A. Risk management plan
2. B. Project scope statement
3. C. Risk register
4. D. Cost management plan

Correct Answer: ACD

Fred is the project manager of the CPS project. He is working with his project team to prioritize the identified risks within the CPS project. He and the team are prioritizing risks for further analysis or action by assessing and combining the risks probability of occurrence and impact. What process is Fred completing?

1. A. Risk identification
2. B. Perform qualitative analysis
3. C. Perform quantitative analysis
4. D. Risk Breakdown Structure creation

Correct Answer: B

You are the project manager for your organization. You are preparing for the quantitative risk analysis. Mark, a project team member, wants to know why you need to do quantitative risk analysis when you just completed qualitative risk analysis. Which one of the following statements best defines what quantitative risk analysis is?

1. A. Quantitative risk analysis is the process of numerically analyzing the effect of identified risks on overall project objectives.
2. B. Quantitative risk analysis is the planning and quantification of risk responses based on probability and impact of each risk event.
3. C. Quantitative risk analysis is the review of the risk events with the high probability and the highest impact on the project objectives.
4. D. Quantitative risk analysis is the process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.

Correct Answer: A

You are the project manager of the GHY project. In your organization you must follow certain enterprise environmental factors that establish the rules for risk management . One of the policies your project must adhere to requires periodic rapid analysis of risks within the project. These rapid, cost-effective session must be documented and performed monthly. What type of analysis are you required to perform according to your enterprise environmental factors?

1. A. Brainstorming
2. B. Qualitative analysis
3. C. Delphi Technique
4. D. Quantitative analysis

Correct Answer: B

You work as a project manager for TechSoft Inc. You, the project team, and the key project stakeholders have completed a round of quantitative risk analysis. You now need to update the risk register with your findings so that you can communicate the risk results to the project stakeholders - including management. You will need to update all of the following information except for which one?

1. A. Probabilistic analysis of the project
2. B. Probability of achieving cost and time objectives
3. C. Risk distributions within the project schedule
4. D. Trends in quantitative risk analysis

Correct Answer: C