Which of the following best describes the identification, analysis, and ranking of project risks?

Correct Answer for the Question – Which of the following best describes the identification, analysis, and ranking of project risks? is given below

Which of the following best describes the identification, analysis, and ranking of project risks?Answer option C is correct.Plan risk management is the process in which the project manager and team identify, analyze, and rank project risks.Answer option B is incorrect. While fixed-priced contracts usually carry low risk for the buyer, it is not the best choice for risk identification.Answer option A is incorrect. Fast tracking allows entire phases to overlap, and actually increases risk within a project.Answer option D is incorrect. Design of experiments is a risk analysis tool to gauge a risk’s probability and impact.Reference: The Project Management Body of Knowledge, Fifth edition, Section 11.1, Page 313Chapter: Quality and Risk ManagementObjective: Risk Identification and Assessment

Fast tracking

Fixed-price contract

Plan risk management

Design of experiments

Correct Answer

The Correct Answer for this Question is

Plan risk management

Explanation

The Question – Which of the following best describes the identification, analysis, and ranking of project risks? has been answered correctly and answers for the question is Plan risk management

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