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You are the project manager of a project in Bluewell Inc. You and your project team have identified several project risks, completed risk analysis, and are planning to apply most appropriate risk responses. Which of the following tools would you use to choose the appropriate risk response?
Correct Answer: C
is incorrect. Delphi technique is used for risk analysis, i.e., for identifying the most probable risks. Delphi is a group of experts who used to rate independently the business risk of an organization. Each expert analyzes the risk independently and then prioritizes the risk, and the result is combined into a consensus. Answer: A is incorrect. Project network diagrams help the project manager and stakeholders visualize the flow of the project work, but they are not used as a part of risk response planning. Answer: B is incorrect. Cause-and-effect analysis is used for exposing risk factors and not an effective one in risk response planning. This analysis involves the use of predictive or diagnostic analytical tool for exploring the root causes or factors that contribute to positive or negative effects or outcomes.