PMI Risk Management Professional (PMI-RMP) — Question 52

When using the risk register to manage the cost risk analysis, which of the following models the way correlation arises, and avoids the need to estimate the correlation coefficients?

Answer options

• A. Risk Monte Carlo analysis
• B. Risk driver method
• C. Risk scatter diagram
• D. Risk RACI matrix

Correct answer: A

Explanation

The correct answer is A, Risk Monte Carlo analysis, as it uses simulations to model risk and correlation without needing to estimate coefficients. The other options, such as B, C, and D, do not provide a means to model correlation effectively in the context of cost risk analysis.