During a mid-project risk review workshop on a 12-month agile-hybrid software project, the project manager and core team are examining the updated risk register to decide which of the 30 identified threats must be addressed in the next two-week sprint. The sponsor emphasizes that any risk likely to affect the forthcoming product increment within the next fortnight must be tackled first. According to PMI's Perform Qualitative Risk Analysis guidelines, which tool or technique should the team apply to rank the threats by the speed with which responses must be implemented?
A Risk Urgency Assessment examines how quickly each risk could affect project objectives and how much time is available to implement a response. By factoring in triggers, time-to-impact, and detectability, the team can separate near-term threats that demand immediate action from those that can be scheduled later. Risk categorization groups risks, Monte Carlo simulation is a quantitative technique, and expert judgment is a general input rather than a specific urgency-based prioritization tool.
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