HKSM
Risk Data Quality Assessment
A technique that judges how suitable, accurate, complete, and timely the available risk data are for supporting effective risk management actions.
Key Points
- Examines accuracy, completeness, reliability, relevance, and timeliness of risk information.
- Uses clear criteria and simple rating scales (e.g., high/medium/low) to express confidence in data.
- Highlights gaps, assumptions, and bias, guiding whether more research or validation is needed.
- Informs next steps: proceed with analysis, refine risk statements, or collect additional data.
Example
On a construction project, the team reviews historical incident logs for excavation risks. The assessment shows the data are outdated and incomplete, with conflicting probability estimates. The team labels data quality as low, postpones quantitative analysis, gathers updated reports and SME input, and updates the risk register with confidence ratings and action items.
PMP Example Question
Which activity determines whether the information about identified risks is reliable and sufficient to support further analysis?
- Risk data quality assessment
- Probability and impact assessment
- Risk categorization
- Risk audit
Correct Answer: A — Risk data quality assessment
Explanation: Risk data quality assessment evaluates the usefulness and reliability of risk data. The other options analyze or review risks but do not directly assess the quality of the underlying data.
