Subtitles of the Movie

In this movie we'll begin a review of the workbook exercises found within your work files. Let's jump right in with number one, which says name the inputs of the perform qualitative risk analysis process. And there were four to this answer, which includes risk register, risk management plan, project scope statement and organizational process assets. And just as a reminder that I do recommend memorizing the inputs, tools and techniques and outputs for the exam. Moving on to number two, for each of the inputs noted in question number one, write down what is used from within each. Well, under risk register, we're using everything that has been added to date, which includes the items that became a part of the register at the time of its creation and as a refresher, the items included at this point are the list of indentified risks and the list of potential responses. As far as the risk management plan, it provided us with the following: roles and responsibilities, which basically includes who does what within the process and remember that this refers to risk activities. It also includes the budget and time allotted for conducting qualitative risk analysis activities, the list of risk categories used within the project, the definitions or probability and impact and the probability and impact matrix. And these last two are very key within this process. It can not be effectively carried out without these two items. And also within the risk management plan we'll use the revised stakeholder risk tolerance levels. In regard to the project scope statement, it provides us with the project deliverables, constraints, assumptions, acceptance criteria of the project and these items add boundaries to the project, keeping the project on focus. And the project scope statement also provides the risk management team with insight as to whether the project is creating something new. As far as risk goes, this tells us a lot as we reviewed earlier within this section. And finally, organizational process assets. In regards to this process, it includes the following: information from previous similar projects, particularly information of similar risks and risk analysis. We'll also use studies of similar projects completed by risk specialists and risk databases. Now, remember, you don't necessarily need to memorize each detail that we just reviewed for these four inputs but be sure to remember at least the list of inputs and also what is used within on a high level. Moving on to question three, it says describe the purpose of the perform qualitative risk analysis process. And the purpose is to prioritize risk in order to determine which risks require additional analysis. And just as I mentioned a moment ago about the inputs, you don't need to remember this verbatim; just understand the purpose. Next, we have a series of fill in the blank questions. Four says qualitative risk analysis tell us where we should spend our blank. The answer that I was looking for is efforts and this was one of the points we covered early on within this section and the reason that we prioritize risks. If you put in time or anything else relating to effort, it was also considered to be a correct answer. Question five says as part of the processes leading up to and following qualitative risk analysis, the risk management team typically does the following: define risks, assess risks, blank and conduct further analysis. The answer is prioritize risk and we conduct further analysis during quantitative risk analysis. The statement says typically because not all projects utilize every process. In some cases again, depending on the project, you may prioritize risks while identifying them or you may not need to conduct further analysis. And the final question that we'll review in this movie says new blank can lead to greater risk. This may be a difficult question to answer out of the context of the points that we covered within this section since many factors can lead to greater risk. But the correct answer here is new technology and this is one of the points that we touched on when we looked at the project scope statement as an input. Any time that new technology comes into play, there are greater risks that result out of charting an uncharted territory. We'll pause this movie here and pick up with number seven of the workbook in the next movie.