Testing the validity of data
Test the data with these questions
- How reliable is the historical information?
- Is or was there bias or inexperience of the reporting personnel?
- Is there any ambiguity in the analysis?
- Are there dependencies between risks that could represent elevated overall risk?
- Are the risks management or technological and if the latter, how has the risk level changes?
- Will quantitative analysis add value?
- Have all risks been entered into the Project Risk Register?