PMP (Project Management Professional) · Question
A project manager is prioritizing risks based on their probability of occurrence and impact. Which risk management tool or technique are they using?
A Risk Matrix, also known as a Probability and Impact Matrix, is commonly used to prioritize individual project risks based on their likelihood and potential ef
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Question: A project manager is prioritizing risks based on their probability of occurrence and impact. Which risk management tool or technique are they using?
Answer options: ✅ Risk Matrix (Probability and Impact Matrix)
- SWOT Analysis
- Decision Tree Analysis
- Expected Monetary Value (EMV) Analysis
Correct answer: Risk Matrix (Probability and Impact Matrix)
Explanation: A Risk Matrix, also known as a Probability and Impact Matrix, is commonly used to prioritize individual project risks based on their likelihood and potential effect.
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Question explanations
- What is the primary output of the 'Direct and Manage Project Work' process?
- Which project management approach emphasizes frequent communication, self-organizing teams, and adapting to ch
- Which of the following is an output of the 'Develop Project Charter' process?
- Which type of risk response strategy involves shifting the impact of a threat along with ownership to a third
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