The Perform Qualitative Risk Analysis process has four inputs:
■ Risk register
■ Risk management plan
■ Project scope statement
■ Organizational process assets
The critical element in this process, as with most of the processes where the risk register is an input, is the list of risks. The risk management plan documented the roles and responsibilities of risk team members, budget and schedule factors for risk activities, the stakeholder risk tolerances, the definitions for probability and impact, and the probability and impact matrix, all of which should be utilized when prioritizing risks. You'll examine probability and impact more closely in the next section, "Tools and Techniques for Perform Qualitative Risk Analysis."
The project scope statement describes the deliverables of the project, and from there you should be able to determine whether you're dealing with a high level of uncertainty or a project that's similar in size and scope to one you've performed before. Projects with high levels of uncertainty or that are more complex than what the team has undertaken before require more diligence during the Perform Qualitative Risk Analysis process.
As with the Identify Risks process, you should examine historical information and lessons learned from past projects as a guide for prioritizing the risks for this project. Risk databases from your industry or application area can be used here as well. These are part of the organizational process assets input.
The real key to this process lies in the tools and techniques you'll use to prioritize risks. Hold on tight because you're going in the deep end.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.