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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.
Prioritize risks for risk response actions.
Assign a red, yellow, or green color code.
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.
That is a high priority risk. Create a risk response as soon as possible.
This risk is irrecoverable. Cancel the project.
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