CRISC Question 137

Community Discussion

Written by other learners. Comments can disagree with the marked answer — check the official documentation when in doubt.

• Chose D1

  D. Quantitative analysis ✅ ⸻ Explanation: • Quantitative risk analysis involves numerically analyzing the effect of identified risks on overall project objectives. • In this scenario: • You are associating a financial amount with each risk event and considering probability × impact. • This is exactly what quantitative risk analysis does: helps measure risk exposure in numerical terms. Other options: • A. Risk response plan → Specifies how risks will be addressed, not their numeric analysis. • B. Contingency reserve → May be derived from quantitative analysis, but it is not the analysis itself. • C. Risk response → The action taken to address risks, not the analysis.

• Chose B1

  Contingency reserves are used to cover risks that have been identified but are uncertain in terms of when or if they will happen

• 2

  The likely outcome of creating a chart that identifies risk probability and impact with a financial amount for each risk event would be: D. Quantitative analysis. This type of chart allows for a quantitative assessment of the risks by assigning numerical values to both the probability of occurrence and the potential impact, often in financial terms. Quantitative analysis helps in prioritizing risks based on their potential impact on the project's objectives and allows for better decision-making regarding risk response strategies. It provides a clear understanding of the potential financial consequences associated with each risk event, aiding in the allocation of resources and the establishment of contingency reserves if needed.