Quiz – Qualitative Risk Analysis

Question 1 of 6

1. Question

Qualitative risk analysis assesses risks by combining probability and impact through:

Structured expert judgment aligned with PMBOK and ISO 31000

Correct Incorrect Correct answer

Large historical databases and Monte Carlo runs

Correct Incorrect Correct answer

Automated financial auditing

Correct Incorrect Correct answer

Random guessing without documentation

Correct Incorrect Correct answer

Question 2 of 6

2. Question

Why do probability-impact matrices require clear scoring rubrics, team consensus, and documented assumptions?

To ensure transparent calibration and prevent bias

Correct Incorrect Correct answer

To increase the project budget

Correct Incorrect Correct answer

To avoid engaging any stakeholders

Correct Incorrect Correct answer

To replace the risk register

Correct Incorrect Correct answer

Question 3 of 6

3. Question

A key advantage of qualitative over quantitative analysis, per the capsule, is that it:

Prioritizes threats without extensive historical data

Correct Incorrect Correct answer

Requires large historical databases

Correct Incorrect Correct answer

Eliminates the need for expert judgment

Correct Incorrect Correct answer

Always produces exact confidence intervals

Correct Incorrect Correct answer

Question 4 of 6

4. Question

Systematic documentation in qualitative analysis transforms tacit knowledge into:

Actionable intelligence supporting strategic decisions

Correct Incorrect Correct answer

Confidential data hidden from the team

Correct Incorrect Correct answer

A single deterministic estimate

Correct Incorrect Correct answer

Unstructured meeting notes only

Correct Incorrect Correct answer

Question 5 of 6

5. Question

Match each element to its role.

Sort elements

The two dimensions assessed in qualitative analysis
Calibrate matrices and reduce bias
Turn tacit knowledge into actionable intelligence

Probability and impact

Correct Incorrect Correct answer

Scoring rubrics and consensus

Correct Incorrect Correct answer

Documented assumptions

Correct Incorrect Correct answer

Question 6 of 6

6. Question

A project manager must rank fifteen newly identified risks quickly, but the team has no historical database and limited time before the next gate review. Which approach best fits qualitative risk analysis?

Score each risk on probability and impact using expert judgment and a calibrated matrix

Correct Incorrect Correct answer

Run a Monte Carlo simulation on ten years of historical data

Correct Incorrect Correct answer

Delay ranking until a full quantitative model is built

Correct Incorrect Correct answer

Assign every risk the same medium rating to save time

Correct Incorrect Correct answer