Assignment:
Qualitative Risk Assessment
Write a brief 3-4 page document responding to the following questions:
1. What is the purpose of the performing the qualitative risk analysis process? Compare Cooper's (p. 47) purpose for performing qualitative risk analysis with the stated purpose in PMBOK (Section 11.3). Create a combined statement of purpose.
2. Describe what might happen if you stopped after risk identification and provided the project sponsor a list of 50 risks, in no particular order, and no plans to work further with the risks.
3. How does personal bias interfere with risk prioritization? Analyze the information provided in Section 11.3 in PMBOK with respect to who might be biased regarding risks and how do you avoid letting bias skew business decisions.
4. How effective is the qualitative risk analysis process? PMBOK (Section 11.3) says that this is a rapid and cost-effective means of establishing risk priorities.
5. Describe the process any group of 15 people would use to consider a list of 50 possible restaurants and decide on one restaurant to eat an evening. Also, describe the process of prioritization of risks in this situation.
Submission Requirements:
• Write your answers in at least three to four pages.
• Substantiate your answers by citing at least two references , in the APA format.
• Font: Arial, 12-point, and double-spaced.