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1. What is the primary use of a qualitative risk analysis such as a risk matrix?
Assign the risk to responsible department for action.
Assign a red, yellow, or green color code.
Prioritize risks for risk response actions.
2. What attributes of the risk do the two sides of a risk matrix represent?
Probability and impact
Beginning and end
Time and money
3. What should you do if a qualitative risk analysis indicates a risk is “red?”
The stakeholders should be notified as soon as possible that the project will not achieve its goals or objectives.
This risk is irrecoverable. Cancel the project.
That is a high priority risk. Create a risk response as soon as possible.
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