ITGSS Certified Technical Associate: Project Management Practice Exam

Qualitative Risk Analysis is the analysis technique that focuses on identifying potential project risks by determining their probability of occurrence and potential impact on project objectives. During this analysis, risks are categorized and prioritized based on their likelihood and effect, allowing project managers to focus resources on the most critical risks.

This technique does not involve numerical data or calculations, making it a more subjective approach compared to quantitative methods. It relies on expert judgment, historical data, and team discussions to highlight risks and assess their significance. This allows project teams to develop mitigation or response strategies effectively.

In contrast, other techniques like Quantitative Risk Analysis are more focused on numerically assessing the impact of risks and determining how risks can affect project outcomes, but they are not primarily centered on the identification of risks themselves. Risk Mitigation Analysis deals with strategies to minimize identified risks, while Project Impact Analysis typically evaluates the consequences of risks once they have been identified, rather than focusing on the identification itself.