What is the purpose of qualitative risk analysis in Mary's project?
PMI-RMP Certification Training - Case Study 3
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Mary, the project manager, collaborates with stakeholders to identify project risks and opportunities. She is advised to identify root causes of risks, as one cause may lead to multiple risks. Grouping risks by root causes aids in planning. Mary should conduct qualitative risk analysis with experts to assess probability and impact, using a risk management plan. Risks are prioritized based on a probability-impact matrix, with low priority risks monitored. High priority risks may undergo quantitative analysis.
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How are risks prioritized based on the probability and impact matrix?
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