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 does a probability score of 1.0 indicate in risk management?

• It is a minor issue.

• It is a potential risk.

• It is an opportunity.

• It is no longer a risk.

Which of the following is NOT a way to define probability values?

• Linear scale

• Ordinal scale

• Nonlinear scale

• Exponential scale

What is the impact on a project if a risk is rated as 'very high'?

• Slight dissatisfaction

• Significant delay

• Minor inconvenience

• Catastrophic, leading to project cancellation

Which impact rating scale is commonly used in qualitative risk analysis?

• 1 through 5

• 1 through 9

• 1 through 3

• 1 through 7

What is the key difference between impact rating and impact level?

• Impact rating is subjective, impact level is objective.

• Impact rating is a scale, impact level is a description.

• Impact rating is quantitative, impact level is qualitative.

• Impact rating is fixed, impact level is variable.