Choose the most appropriate risk analysis technique to fill in the blank in the following sentence:

____________________ is a technique used to determine which risks have the greatest impact on a project.

Question

Choose the most appropriate risk analysis technique to fill in the blank in the following sentence:

____________________ is a technique used to determine which risks have the greatest impact on a project.

BlackTom AI · Accepted Answer

The task asks which risk analysis technique is used to determine which risks have the greatest impact on a project.
Option 1: Multi-criteria analysis focuses on evaluating options across multiple criteria to aid decision-making, but it is not primarily about identifying which risks have the greatest impact on project outcomes.
Option 2: Monte-Carlo analysis uses random sampling to model the probability distributions of inputs and outputs; it provides overall risk exposure and uncertainty but does not by itself rank risks by their influence on a single outcome unless combined with additional sensitivity work.
Option 3: Sensitivity analysis is specifically designed to assess how variation in input variables affects a model’s output, enabling identification of which risks (inputs) have the greatest impact on project outcomes. This directly answers the prompt.
Option 4: Hazard and operability study (HAZOP) is a structured technique for identifying process hazards and operability problems in process industries; it is not a general risk-impact ranking method for projects.
In light of the definitions, the option that best matches the description of determining which risks have the greatest impact on a project is Sensitivity analysis.

CVEN30008_2025_SM1 Module 4.3 Quiz

Choose the most appropriate risk analysis technique to fill in the blank in the following sentence: ____________________ is a technique used to determine which risks have the greatest impact on a project.

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