Qualitative Risk Analysis

Correct Answer: Risk data quality assessment

The process of Qualitative Risk Analysis primarily involves ranking and prioritizing risks according to their potential effect on project objectives. In this context, the use of a 'Risk data quality assessment' is the most appropriate answer as it's a tool used in qualitative risk analysis to evaluate the degree to which the data about risks is useful for risk management. The assessment could involve examining the reliability, credibility, and quality of the data. On the other hand, a 'Monte Carlo Simulation' is a technique used in quantitative risk analysis, not qualitative. While 'Cost-Benefit Analysis' is used to determine the viability of a decision or comparing the total expected cost of each option against the total expected benefits, this technique is typically used following the risk response planning once the response strategies have been decided. And finally, 'Brainstorming sessions' are generally techniques used in Identify Risks process of risk management, not in Qualitative Risk Analysis.

Correct Answer: Risk Probability and Impact Assessment

In this scenario, the Risk Probability and Impact Assessment is the best method to utilize. This method assesses risks in terms of their potential impact on project objectives and the likelihood of them occurring, which is highly relevant to the question's context involving uncertain weather conditions impacting costs. On the other hand, Risk Urgency Assessment is less effective as it prioritizes risks based on their urgency, not directly related to uncertain weather conditions. Cause and Effect Analysis is generally used to identify the root cause of a problem, which may not be applicable to weather unpredictability. Finally, SWOT Analysis is an overall strategic planning tool but it does not focus specifically on qualitative risk like uncertain weather affecting project costs.

Correct Answer: Risk data quality assessment

Risk data quality assessment helps assess the reliability and integrity of the risk, which is appropriate for assessing the risk of unauthorized access. Sensitivity analysis, quantitative risk analysis, risk categorization, risk probability and impact matrix, and Monte Carlo simulation do not directly assess the data quality of a specific risk.