PMP (Project Management Professional) · Question
What is the purpose of a 'probability and impact matrix' in risk management?
A probability and impact matrix is used to assess and prioritize individual project risks based on their probability of occurrence and the potential impact they
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Question: What is the purpose of a 'probability and impact matrix' in risk management?
Answer options:
- To categorize stakeholder engagement levels ✅ To prioritize individual project risks
- To determine project funding limits
- To track project schedule variances
Correct answer: To prioritize individual project risks
Explanation: A probability and impact matrix is used to assess and prioritize individual project risks based on their probability of occurrence and the potential impact they would have on project objectives.
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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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