Perform Qualitative Risk Analysis

Introduction
• The process of prioritizing individual project risks for further analysis or action
by assessing their probability of occurrence and impact as well as other
characteristics.
• It focuses efforts on high-priority risks.
• Assesses the priority of identified individual project risks using their probability
of occurrence, the corresponding impact on project objectives if the risks occur,
and other factors.
• Such assessments are subjective as they are based on perceptions of risk by the
project team and other stakeholders.
• Risk perception introduces bias into the assessment of identified risks, so attention
should be paid to identifying bias and correcting for it.
• Where a facilitator is used to support the Perform Qualitative Risk Analysis
process, addressing bias is a key part of the facilitator’s role.
Cont…

• It establishes the relative priorities of individual project risks for Plan

Risk Responses.
• It identifies a risk owner for each risk who will take responsibility for
planning an appropriate risk response and ensuring that it is
implemented.
• It also lays the foundation for Perform Quantitative Risk Analysis if
this process is required.
Input

• Project Management Plan

• Project Documents
• Enterprise Environmental Factors
Industry studies of similar projects
Published materials, commercial risk databases or checklists
• Organizational Process Assets
Information from similar completed projects
Tools and Techniques

• Expert Judgement
Expert judgment is often obtained through facilitated risk workshops or
interviews.
• Data Gathering
Interviews (Structure and Semi-Structured)
• Data Analysis
Risk Data Quality Assessment
Risk Probability and Impact Assessment
• Assessment for Other Risk Parameters
Urgency (Period in which risk response is to be implemented)
Proximity (Period of time before risk might have impact on P. objectives)
Dormancy (Period of time that may elapse after a risk has occurred before
impact is discovered)
Manageability (Ease with which a risk owner manage the risk)
Controllability (Degree to which risk owner is able to control the risk
outcome)
Detectability (Ease with which the results of risk occurring can be detected)
Connectivity (Extent to which the risk is related to other individual risks)
Strategic Impact (Potential of risk to have +, - impact on strategic goals)
Propinquity (Degree to which risk is perceived to matter by one or more
stakeholders)
The consideration of some of these characteristics can provide a more robust
prioritization of risks than is possible by only assessing probability and impact
• Interpersonal and Team Skills
• Risk Categorization
• Data Representation
Probability and Impact Matrix
Risk Assessment Tables
• Meetings (Risk Workshops)
Risk Assessment Table
Output

• Documents Updated
Risk Register
Risk Report