PMI-RMP Certification Training - Critical Success Factor - Perform Qualitative Risk Analysis

The video tutorial discusses the importance of having an agreed-upon approach for qualitative risk assessment in projects. It emphasizes defining probability and impact scales, ensuring high-quality risk information, and performing iterative risk analysis throughout the project lifecycle. The tutorial also highlights the need for a common understanding of risk management terms among stakeholders and the impact of risk response strategies on assessments.

Why is it important to have an agreed-upon approach for assessing risks in a project?

• To increase project costs

• To reduce the number of meetings

• To make sure all stakeholders have a common understanding

• To ensure everyone uses the same software

What is a critical factor for ensuring the quality of risk information?

• Ignoring data quality

• Ensuring data is from a reliable source

• Relying on biased sources

• Using outdated data

How often should qualitative risk analysis be conducted during a project?

• Throughout the project's lifecycle

• Only when the project is completed

• Once every year

• Only at the beginning

What should be done if there are changes in the project plan?

• Delay the project

• Ignore the changes

• Cancel the project

• Redo the qualitative risk analysis

What is the impact of implementing risk response strategies on risk assessment?

• It makes the project more expensive

• It has no impact

• It can change the risk levels

• It increases the number of risks