Project Qualitative Risk Analysis (PMBOK 2000)

Overview/Description
 Edmund H. North once said, "I think there's a difference between a gamble and a calculated risk." As a project manager, do you know the difference? Risks are an inherent part of any project. How do you objectively decide which risks are most urgent? In "Project Qualitative Risk Analysis," you'll gain information that will help you prioritize a list of risks. You will find out how to evaluate the quality of information available about the risk. You'll also learn how to determine the probability of a risk and its potential consequences and how to combine these factors to reach a better understanding of a risk's importance. The better you understand the risks your project may encounter, the more effectively you can manage them. Upon completion of this course, the learner will possess the knowledge and skills needed to conduct qualitative risk analyses. This course is aligned with "A Guide to the Project Management Body of Knowledge" (PMBOK ® Guide) 2000 Edition, published by the Project Management Institute (PMI ®).

Target Audience
 This series is specifically targeted at project managers, project team members, functional managers with employees assigned to project teams, project stakeholders, any team manager or member interested in project management, executives committed to their organization's growth, managers required to take on new challenges, and top managers with vision.

Expected Duration
4.0 hours

Lesson Objectives:

Inputs and Tools and Techniques for Qualitative Risk Analysis

  • identify the benefits of using the inputs and tools and techniques of qualitative risk analysis, from a list of statements.
  • select examples of inputs to qualitative risk analysis for a selected project from a given list.
  • match the names of the techniques for estimating probability and impact to examples of each
  • determine the best technique for estimating probability and impact for a given project.
  • identify the elements of a given probability and impact risk rating matrix.
  • determine a course of action based on risk classification, given a probability and impact risk rating matrix.
  • identify examples of the criteria used to test project assumptions.
  • match the criteria used in data precision ranking to given examples.

    • Outputs from Qualitative Risk Analysis

  • recognize the value of understanding the outputs from qualitative risk analysis.
  • identify examples of how overall project risk ranking can be used.
  • match the criteria used to prioritize the risks with given project information.
  • match the levels of risks to examples based on their calculated risk score.
  • determine which risks need to be included on the list of risks for additional analysis and management for a specific project.
  • select rationale for identifying trends in qualitative risk analysis results.
  • interpret trends in qualitative risk analysis results.

    • Course Number: PROJ0492