Six Sigma Global Institute (SSGI) Project Management Professional Certification Practice Exam

What is NOT a tool for assessing risk?

1. Risk Severity Matrix

2. Project Charter Document

3. Failure Mode and Effects Analysis

4. Critical Success Factors

The correct answer is: Project Charter Document

The Project Charter Document is not primarily a tool for assessing risk. Instead, it serves as an essential foundational document in project management that outlines the project's objectives, scope, stakeholders, and key deliverables. The charter formally authorizes the project and sets the direction for its execution, but it does not specifically focus on identifying or analyzing risks. In contrast, the other tools mentioned are explicitly geared towards assessing and managing risk. The Risk Severity Matrix provides a framework for prioritizing risks based on their likelihood and impact, enabling project teams to focus on the most significant threats. Failure Mode and Effects Analysis (FMEA) systematically evaluates potential failure points in a process, assessing the impact of those failures to proactively address risks. Critical Success Factors identify the essential areas that must be managed effectively to ensure project success, which inherently includes understanding and mitigating risks within those areas.