Gary is the project manager of his organization. He is managing a project that is similar to a project his organization completed recently. Gary has decided that he will use the information from the past project to help him and the project team to identify the risks that may be present in the project. Management agrees that this checklist approach is ideal and will save time in the project. Which of the following statement is most accurate about the limitations of the checklist analysis approach for Gary?

A.
The checklist analysis approach is fast but it is impossible to build and exhaustive checklist.

B.
The checklist analysis approach saves time, but can cost more.

C.
The checklist analysis approach only uses qualitative analysis.

D.
The checklist is also known as top down risk assessment.

Explanation:

A checklist can be quick and simple, but it is impossible to build an exhaustive one for each project.

Answer option C is incorrect. This is not a valid statement about the checklist approach.

Answer option B is incorrect. This is not a valid statement about the checklist approach.

Answer option D is incorrect. This is not a valid statement about the checklist approach.

Reference: "Project Management Body of Knowledge (PMBOK Guide), Fourth Edition"