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Qualitative Risk Analysis Techniques in Projects

The document presents three scenarios involving risk assessment and management in project management. It discusses qualitative risk analysis techniques for evaluating labor strike risks, estimating downtime for an assembly line based on statistical data, and selecting a risk response strategy for a blockchain payment platform facing potential regulatory changes. Each scenario includes multiple-choice options for the most appropriate course of action.

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4 views1 page

Qualitative Risk Analysis Techniques in Projects

The document presents three scenarios involving risk assessment and management in project management. It discusses qualitative risk analysis techniques for evaluating labor strike risks, estimating downtime for an assembly line based on statistical data, and selecting a risk response strategy for a blockchain payment platform facing potential regulatory changes. Each scenario includes multiple-choice options for the most appropriate course of action.

Uploaded by

tccljahirdipok
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

149.

During an international construction project, the project manager identifies a risk of


significant delays due to potential labor strikes in the host country, which could severely
impact the project schedule, costs, and overall objectives. What is the most appropriate
qualitative risk analysis technique to assess this risk?
a. Use a Probability and Impact Matrix to evaluate and prioritize the risk based on its
likelihood and potential effects.
b. Use the Delphi Technique to reach a consensus among experts about the risk of labor strikes.
c. Perform Quantitative Risk Analysis to calculate the numerical impact of the labor strikes on
the project schedule and budget.
d. Conduct a SWOT Analysis to identify the strengths, weaknesses, opportunities, and threats
related to labor strikes in the host country.

150. In a project dealing with the manufacturing of electric vehicles, the assembly line has
historical downtime data following a normal distribution with a mean of 45 minutes and a
standard deviation of 15 minutes. The client requests a 95% confidence level for assembly
line downtimes. What range of downtime should the project manager estimate?
a. 45 to 75 minutes
b. 30 to 60 minutes
c. 15 to 75 minutes
d. 15 to 45 minutes

151. A blockchain payment platform is scheduled for launch in six months. Draft legislation
circulating in parliament may prohibit its current encryption method shortly after go-live,
causing service shutdowns and penalties. The project manager decides to overhaul the
design now and implement an already-approved algorithm, absorbing extra cost to remove
the threat entirely. Which risk response strategy best describes this choice?
a. Accept – continue tracking the bill’s progress while preparing a comprehensive stakeholder
briefing should it pass into law
b. Transfer – procure cyber-liability insurance to cover any regulatory penalties that might arise
c. Avoid – modify scope to remove exposure
d. Mitigate – add contingency funds and develop a fallback encryption module for rapid
deployment readiness

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