Answer to Question #216645 in Management for Okanna

Question

Discuss how you would perform qualitative risk analysis in a project management environment.

Answer 1

• Conduct a more in-depth review of the risks that could significantly influence a project's goal.

• Determine the possibility of attaining cost and schedule goals, as well as a range of possible outcomes.

• Given the project's risks, determine the realistic timeline and financial targets.

• Provide a method for quantifying some of the project's uncertainty to make better judgments.