Perform Qualitative Risk Analysis is usually a rapid and cost-effective means of establishing priorities for Plan Risk Responses and lays the foundation for Perform Quantitative Risk Analysis, if required.

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BlackTom AI · Accepted Answer

The statement discusses Perform Qualitative Risk Analysis as a rapid and cost-effective method for prioritizing risk responses and as a foundation for Perform Quantitative Risk Analysis if needed. 
First, consider the purpose of Qualitative Risk Analysis: it assesses probability and impact qualitatively (often using risk matrices) to rank risks by priority, which helps determine where to focus planning efforts. This aligns with the idea of establishing priorities for Plan Risk Responses in a timely and resource-efficient manner. 
Second, the statement notes that Qualitative Risk Analysis lays the foundation for Quantitative Risk Analysis when required. In practice, after identifying and ranking risks qualitatively, a project may proceed to quantitative analysis (e.g., Monte Carlo simulations) for the high-priority risks if a more rigorous assessment is warranted. This sequencing reflects common PMBOK and PMI guidance, where qualitative analysis informs whether quantitative analysis is necessary and which risks to model in depth. 
Therefore, the characterization of Qualitative Risk Analysis as rapid, cost-effective for prioritization, and foundational for subsequent quantitative analysis is consistent with standard project risk management processes. 
Note: since this prompt presents a true/false statement with no alternative options provided, there are no additional incorrect options to evaluate here. Thus, the reasoning focuses on validating the asserted relationship between qualitative analysis, prioritization, and the potential move to quantitative analysis, highlighting why the description is accurate.

PJM6015.20760.202525 PJM6015_Week 4_Test Your Knowledge (TYK)

Perform Qualitative Risk Analysis is usually a rapid and cost-effective means of establishing priorities for Plan Risk Responses and lays the foundation for Perform Quantitative Risk Analysis, if required.

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