Subtitles of the Movie

In this movie we'll wrap up the remaining workbook exercises that pertain to this section and relate to qualitative risk analysis. We have a series of fill in the blank and questions in the last set of exercises to review and we'll pick up with question number eight, which is one your screen. It says risks are assessed and prioritized based on blank using risk probability and impact definitions. The answer is stakeholder risk tolerance levels. Stakeholder risk tolerance levels are important to overall risk management as you'll recall, they are documented within the risk management plan. How much risk your stakeholders and the organization are willing to take changes how you approach risk management and your response strategies. While some stakeholders may consider a certain risk to be of high priorities, others will not and this should be on the minds of the risk management team at all times. Question nine says who participates in risk assessment and where do these individuals come from? On a basic level, these individuals include the project team members and also knowledgeable individuals outside of the project team. These are the experts that assess and prioritize the risks and remember that we're using here individuals with knowledge about the risks, not necessarily knowledge about performing risk assessment. That's the job of the facilitator. Question ten asks you what is a watch list. The answer is that a watch list contains a list of low-priority risks, those risks that don't necessarily have a large impact on the project objectives. At the same time, we don't forget about these risks because their status may change at which time you'll need to analyze them further and respond to them. Watch lists are monitored throughout the life of the project and in the next course of this course series, you will see that we reassess risk including those risks that are on the watch list. Question eleven says conducting risk analysis using poor-quality data can result in what? The answer is something related to useless information. Now, this is one of the reasons that we perform risk data quality assessment to determine whether the information is credible, accurate and reliable because if that's not the case, we wind up with results that we can not use and time and efforts are therefore wasted. Number 12 is a fill in the blank question. It says blank determines which risks are considered urgent. And here we were looking for tool and technique. This refers to risk urgency assessment where we identify the risks that require a near-term response. That was the final exercise of this section. As you can tell, these exercises are meant to provide a review of the overall section. It's important that you go through these exercises prior to viewing these workbook review movies ad you can always go back and run through the exercises multiple times. And that concludes this movie and also this section.