Which statement about Risk Management is false?

Risk management is a crucial aspect of project management, focusing on identifying, assessing, and responding to potential risks that could impact project objectives. Each of the statements presented relates to various processes within risk management.

The statement indicating that risk prioritization occurs in Quantitative Risk Analysis is inaccurate. Quantitative Risk Analysis primarily involves numerically analyzing the effect of identified risks on overall project objectives. It quantifies risks to assess their potential impact on project outcomes, typically using statistical methods, models, or simulations. While it may inform decision-making regarding risk responses, the actual prioritization—determining which risks require the most immediate attention or have the highest impact—is primarily conducted during Qualitative Risk Analysis. This phase involves evaluating risks based on their likelihood of occurrence and their potential impact, leading to a ranked list that identifies which risks warrant further analysis or proactive measures.

The other statements are true within the context of risk management. All identified risks are indeed maintained in the Risk Register to ensure accountability and provide a documented history of risks throughout the project lifecycle. Qualitative Risk Analysis is specifically intended for prioritizing these risks, allowing project managers to focus resources on the most critical threats. Additionally, lower-priority risks are appropriately managed by placing them on a Watch List, which allows the