Podcast
Questions and Answers
What is the most popular approach for rating risks in the probability & impact matrix?
What is the most popular approach for rating risks in the probability & impact matrix?
- Red, Yellow, Green
- High, Medium, Low (correct)
- Software, Business, Technical
- Funding, Estimates, Scheduling
How can the seriousness and priority for action of risks be indicated in a matrix?
How can the seriousness and priority for action of risks be indicated in a matrix?
- By using different font styles
- By underlining the cells
- By adding border lines to the cells
- By using red, yellow, green color codes (correct)
What is the purpose of the probability & impact matrix?
What is the purpose of the probability & impact matrix?
- To prioritize project timelines
- To identify and organize risks (correct)
- To estimate funding and resource availability
- To define risk categories
What does the scale in the probability & impact matrix typically consist of?
What does the scale in the probability & impact matrix typically consist of?
What is the purpose of a RACI chart in the context of Human Resources?
What is the purpose of a RACI chart in the context of Human Resources?
How does the RAM (Responsibility Assignment Matrix) contribute to project management?
How does the RAM (Responsibility Assignment Matrix) contribute to project management?
What is the primary function of understanding the budget in terms of resources, cost, and time for specific risk activities?
What is the primary function of understanding the budget in terms of resources, cost, and time for specific risk activities?
What does the timing component in the context of risk management define?
What does the timing component in the context of risk management define?
What is the purpose of the probability & impact matrix in risk analysis?
What is the purpose of the probability & impact matrix in risk analysis?
How does the choice of grid size in a risk matrix affect risk analysis?
How does the choice of grid size in a risk matrix affect risk analysis?
What does the acronym 'PIG' stand for in relation to risk heat maps?
What does the acronym 'PIG' stand for in relation to risk heat maps?
How does stakeholders' risk tolerance influence the ranking of risks in impact levels?
How does stakeholders' risk tolerance influence the ranking of risks in impact levels?