Task 1. Qualitative Risk Analysis. (10 points)

Modules 4.1 and 4.2 discuss two classes of risk analysis: Qualitative risk analysis and quantitative risk analysis.

• Describe primary differences between the two classes.
• Explain why, in general, qualitative risk analysis should be performed prior to carrying out quantitative risk analysis.

Answer :

Task 2. Probability and Impact Analysis. (20 points)

Project risks commonly identified in general projects are outlined in Figure 1.

• Perform a probability and impact analysis for the Level 2 risks under '1. Technical Risk' and '4. External Risk.'
• Use the P-I matrix template in Figure 2

High Probability
Low Probability
	Low Impact	High Impact

Figure 2. RBS of management risk.

Task 3. Risk Prioritization (10 points)

Using the outputs from the P-I analysis in Task 2, identify at least THREE high-priority risks.

Evaluate their relative priorities. You may use the template in Table 1.

Answer

Table 1. Priority assessment table

Priority	Risk	Probability assessment	Impact assessment
1
2
3
4
5