assign risk priorities Rank your risks It's not enough to know that risks are out there. You can identify risks all day long, and there's really no limit to the number of risks you can think of. But some of them are likely to occur, while others are very improbable. It's the ones that have much better odds of happening that you really want to plan for. Besides, some risks will cause a whole lot of damage to your project if they happen, while others will barely make a scratch... and you care much more about the risks that will have a big impact. That's why you need the next risk management process, Qualitative Risk Analysis--so you can look at each risk and figure out how likely it is and how big its impact will be. ow what risks You need to kn d in order to you've identif . ie analyze them Remember all the stuff you in here about risk categories put and definitions? Those will come in han dy. Qualitative Risk Analysis If you didn't put that stuff in the plan, then you should go ahead and do it now. Risk Register Project Scope Statement Risk Management Plan Organizational Process Assets Inputs A good way to figure out whether a risk is likely is to look at lessons learned and see if it happened before. technology Does the project use new very it for the first time? Is be more risky. ll complex? Then it wi Why do you think Enterprise Environmental Factors are NOT an input to the Qualitative Risk Analysis process? 522 Chapter 11