PMI Risk Management Professional Practice Exam

What diagram would best represent project risks in order by their overall influence?

1. Flowchart

2. Scatter plot

3. Control chart

4. Fishbone diagram

The correct answer is: Control chart

The most suitable diagram to represent project risks in order by their overall influence is the control chart. A control chart is a statistical tool used to track and analyze process variation over time, which makes it an effective method for assessing the potential impact of different risks. In this context, it can help visualize risks by plotting their influence against established control limits, enabling project managers to see which risks are in control and which ones require immediate attention. Control charts allow for easy identification of trends, shifts, or any outliers indicating significant risks that may need careful management or mitigation strategies. This ability to highlight variations over time and assess their overall impact is crucial for prioritizing risks effectively in a project environment. Other diagrams like flowcharts, scatter plots, and fishbone diagrams serve different purposes. Flowcharts are useful for illustrating processes or workflows but don't specifically prioritize risks. Scatter plots can show correlations between two variables but are not designed to rank risks by influence. Fishbone diagrams help in identifying root causes of problems but do not prioritize those identified risks. Thus, for the purpose of organizing project risks by their overall influence, a control chart is the best fit.