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NEW QUESTION: 1
Your project has several risks that may cause serious financial impact if they occur. You have studied the risk events and made some potential risk responses for the risk events but management wants you to do more. They'd like you to create some type of a chart that identified the risk probability and impact with a financial amount for each risk event. What is the likely outcome of creating this type of chart?
A. Risk response plan
B. Risk response
This chart is a probability-impact matrix in a quantitative analysis process. The probability and financial impact of each risk is learned through research, testing, and subject matter experts. The probability of the event is multiplied by the financial impact to create a risk event value for each risk. The sum of the risk event values will lead to the contingency reserve for the project.
D. Quantitative analysis
E. is incorrect. The risk responses are needed but this chart doesn't help the project
manager to create them.
F. Contingency reserve
G. is incorrect. The risk response plan is based on the risk responses, not the risk
is incorrect. This chart is created as part of quantitative analysis.
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