PMI-RMP Certification Training - Probability Risk and Impact Scale

The video tutorial discusses the importance of a risk management plan, focusing on defining probability and impact in qualitative risk analysis. It explains the probability scale from 0.0 to 1.0, where 1.0 indicates certainty, thus not a risk. The tutorial also covers impact levels, ranging from very low to very high, and how they affect project objectives. Different scales for impact ratings are discussed, emphasizing the subjective nature of qualitative analysis.

What is the importance of defining probability and impact in a risk management plan?

How does the probability score range from 0.0 to 1.0 affect the classification of risks?

Describe the impact levels defined in the risk management plan.

What are the different scales that can be used to assess impact in qualitative risk analysis?

Explain the difference between qualitative and quantitative risk analysis.