In qualitative risk analysis, the project team sometimes uses a numeric scale and a color coding system assigning red, yellow and green to a pre-determined value range. This color coding system breaks the risks into groups requiring different level of attention. Green risks are those that (selected the best answer).

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BlackTom AI · Accepted Answer

In this question, we are evaluating what green risks signify in a qualitative risk analysis color-coding scheme that uses red, yellow, and green to categorize risk levels.
Option 1: 'Are of least concern' — This aligns with the common interpretation that green-coded risks are the lowest priority or least concerning, indicating minimal attention is needed relative to higher categories. This option is consistent with typical risk grading where green represents acceptable or non-urgent risk levels.
Option 2: 'Can be ignored' — While green risks are low priority, saying they can be ignored is overly dismissive. Even low-risk items may require periodic review or validation, so this statement is too strong and ignores the need for ongoing monitoring that often accompanies risk management.
Option 3: 'Should be closely monitored' — Close monitoring is usually associated with higher-priority categories (like yellow or red) where risk is higher or changing. Assigning green to 'closely monitored' contradicts the intent of green as low-risk, making this option inconsistent with typical color schemes.
Option 4: 'Require more attention' — Requiring more attention suggests a higher level of concern, which would generally be reflected by yellow or red codes. This option misreads green as signaling a greater need for intervention, which is inaccurate in standard qualitative risk frameworks.
Overall, understanding the color coding means recognizing that green indicates the lowest level of risk requiring the least attention, while the other statements imply greater concern or action than green signifies.

PJM6015.20760.202525 PJM6015_Week 3_Test Your Knowledge (TYK)

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