Question 3. Risk management tools and methodologies · Delphi technique · Root cause analysis (a) List and briefly describe the following techniques you could use to identify risk: · Diagramming...

Question 3. Risk management tools and methodologies
·    Delphi technique
·    Root cause analysis

(a) List and briefly describe the following techniques you could use to identify risk:

·    Diagramming techniques

·    Benchmarking

(b) What is the difference between qualitative and quantitative risk analysis? What is the advantage of quantitative risk analysis?

(c)  What are your options for dealing with risk?

(d) What are five (5) of the key parts of an action plan for implementing risk treatment?

Question 4. Risk register

(a) What is a risk register? How it can be used?

(b) Explain the use of a dynamic risk register across a program.

(c) What is a residual risk? What could you do with a residual risk at the end of a program? Provide an example.