The data quality assessment involves determining the usefulness of the data gathered to evaluate risk. Most important, the data must be unbiased and accurate. You will want to examine elements such as the following when using this tool and technique:
■ The quality of the data used
■ The availability of data regarding the risks
■ How well the risk is understood
■ The reliability and integrity of the data
■ The accuracy of the data
Low-quality data will render the results from the Perform Qualitative Risk Analysis process almost useless. Spend the time to validate and verify the information you've collected about risks so that your prioritization and analysis is as accurate as it can be. If you find that the quality of the data is questionable, you guessed it—go back and get better data.
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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.