Perform Qualitative Risk Analysis
Figure 23:Perform Qualitative Risk Analysis: Inputs, Tools and Techniques, and Outputs. Reprinted from "A Guide to the Project Management Body of Knowledge (PMBOK Guide), (5th Edition)" by Project Management Institute, 2013, p. 328. Newton Square, PA: Project Management Institute, Inc. Reprinted without permission
Figure 23: Perform Qualitative Risk Analysis above depicts all the possible inputs tools and techniques resulting in Project documents updates.
11.3 Perform Qualitative Risk Analysis
Process Definition
Qualitative Risk Analysis is the process of prioritizing risks by focusing on high-impact risk breakers by performing probability analysis.
Process Assessment
Qualitative Risk analysis provides a method of defining risk priorities. Input from all parties will provide useful information in developing an in-depth qualitative risk analysis. The probability impact matrix utilizes a grading system of impact severity usually from low to high or from 1-10 depending upon the scale. This analysis is subjective but it does narrow the scope of focus to high-impact risks. Having full participation from the project team and stakeholders results in a commitment to reduce the risks associated with the project.
Perform Qualitative Risk Analysis
11.3.1
Input
This is the input generated in PGMT613, details a risk plan for IT.
11.3.2
Tools and Techniques
In PGMT 612, a detailed summation of risk tools and techniques and ways to evaluate risk in an international setting.
11.3.3
Outputs
Probability X Impact Matrix 613:
Probability Impact Matrix developed an output PGMT 613, to identify and focus upon high impact risks in the project based upon the risk register.