risk priority number

 A project manager is in the process of evaluating and prioritizing risks on the project by calculating the Risk Priority Number (RPN) for the risks. A Risk priority number will consider which of the following factors?

A)Probability, Impact, and Timeframe

B)Probability, Impact, and owner

C) Probability, Impact, and Cost

D)Probability, Impact, and Schedule

 

 C is the correct answer

crushPMP's picture

Weird question - Am split between Cost and Schedule, but I'll go with Option C.

 Hi,

I too have answered as C. But the answer is given as A

What is the source of your question, Vijaya?

Thanks

Jai

It's one of the questions from Simplilearn question bank

 

Regards

Vijaya

 LIKE all courseware, simplilearn also have some question nonrlelevant to pmbok.

and in actual from reliable resources 

What is RPN?

See here (ref: http://www.ombuenterprises.com/LibraryPDFs/Understanding_Risk_Priority_Numbers.pdf )

 

RPN 
One common approach in FMECA calculates a Risk Priority Number (RPN). Each failure 
(mode) has an assigned severity, probability, and detectability values. This common approach 
uses the following qualitative scale for ranking. 
• The severity score (S) is an integer between 1 and 10, where the most severe is a 10 
• The probability score (P) is an integer between 1 and 10, where the highest probability is 
a 10 
• The detectability score (D) is an integer between 1 and 10 where most difficult to detect 
is a 10. 
The RPN is the product of the three ranks. For example, with S = 5, P = 3, D = 6, the RPN is 
90 = (5)(3)(6). 
------------------
Not only this , looking to many other sites related to RPN , all 4 options are wrong
 
here  severity means Impact.
but detectibility = may not be , a cost, schedule, or owner.
Also not any time frame.
 
the definition of 3rd parameter Detectibility or Detection = how difficult to detect a risk is called Detectibility.

 

Thanks a lot for clarifying the RPN


Bhavesh

Thank You Sir

SumathiCH's picture

Risk analysis is done based on Probability x Impact on project objectives. Also timeframe is important for prioritisation. For example, I would rather like to concentrate on a risk that might occur next week rather than one that might occur after six months. So answer A is correct IMHO.