Impact Analysis

Incorrect. While impact analysis is related to risk identification, its primary focus is on understanding the consequences of those risks.

Correct! Impact analysis aims to understand the "what ifs" of a project by analyzing the potential effects of risks.

Incorrect. While impact analysis contributes to the development of a risk management plan, its primary focus is on understanding the impact of individual risks.

Incorrect. It's impossible to eliminate all risks. Impact analysis helps prioritize and manage them effectively.

Incorrect. Risk quantification is a crucial element of impact analysis, assigning numerical values to the impact and probability of risks.

Incorrect. Sensitivity analysis is important for understanding how the impact of a risk might change based on project variables.

Correct! While cost-benefit analysis can be helpful in assessing project decisions, it is not a core component of impact analysis itself.

Incorrect. Comparing the project's intended outcome with the "status quo" is a key part of impact analysis.

Incorrect. While impact analysis can inform scheduling, its primary benefit is in understanding the potential consequences of risks.

Correct! Impact analysis provides a shared understanding of risks and their potential consequences, fostering better communication.

Incorrect. While effective risk management can lead to cost savings, impact analysis directly focuses on understanding the potential impact of risks.

Incorrect. Impact analysis is not about expanding the project scope but about understanding the potential impact of risks within the existing scope.

Incorrect. Sensitivity analysis focuses on how the impact of a risk might change, not its root causes.

Incorrect. While related to risk assessment, sensitivity analysis focuses on how the impact might change, not the likelihood of occurrence.

Correct! Sensitivity analysis helps understand the impact of changes in project variables, such as budget or schedule, on the severity of risks.

Incorrect. Sensitivity analysis provides information for developing mitigation strategies, but its primary focus is on understanding how the impact of a risk might change.

Incorrect. The scope of analysis should be determined before identifying risks to ensure that all relevant risks are included.

Correct! Determining the scope of analysis ensures that all identified risks fall within the project's risk response planning process.

Incorrect. The scope of analysis should be determined before the quantification process to ensure that all relevant risks are considered.

Incorrect. Determining the scope of analysis is crucial for identifying and analyzing all relevant risks before any further analysis.

**Quantify Risk Impact:** * **Severity:** Medium (Missed deadlines could affect the launch date and potentially impact marketing plans). * **Probability:** Medium (App Store review times can be unpredictable, but delays are possible). **Sensitivity Analysis:** * **App Complexity:** Higher. A complex app increases the likelihood of longer review times and potentially a greater impact on the launch date. * **Release Timing:** Higher. Releasing during busy periods increases the likelihood of delays and their potential impact on the launch date. **Baseline Comparison:** * **Intended Outcome:** Launch the app on a specific date. * **Impact of Risk:** A delay in App Store approval could push the launch date back, potentially missing marketing deadlines and impacting user engagement. **Conclusion:** * This risk has a medium impact and probability, but it's sensitive to factors like app complexity and release timing. Mitigation strategies should be developed, such as submitting the app for review early, being prepared for potential delays, and having alternative launch plans.