With the failure probability and consequence scores shown in the table,compute the overall risk factor for the project.
A)less than or equal to 0.3
B)greater than 0.3 but less than or equal to 0.4
C)greater than 0.4 but less than or equal to 0.5
D)greater than 0.5

Question

With the failure probability and consequence scores shown in the table,compute the overall risk factor for the project. 
A)less than or equal to 0.3 
B)greater than 0.3 but less than or equal to 0.4 
C)greater than 0.4 but less than or equal to 0.5 
D)greater than 0.5

Quizplus · Accepted Answer

To calculate the overall risk factor, we multiply the failure probability with the consequence score for each risk and add them up.

For Risk 1: (0.25 x 3) = 0.75 
For Risk 2: (0.2 x 4) = 0.8 
For Risk 3: (0.15 x 2) = 0.3 
For Risk 4: (0.3 x 3) = 0.9

Adding these up, we get a total of 2.75.

Since the overall risk factor is between 0.3 and 0.4, the best choice is B.

With the Failure Probability and Consequence Scores Shown in the Table,compute