A project manager has recently been assigned to a construction project.

The sponsor is asking for risk ranking (prioritization). The standard and most widely applicable method is qualitative risk analysis (A), which evaluates probability and impact (and sometimes urgency, detectability, or proximity) to produce a prioritized list. Qualitative analysis is faster, requires less data, and works well early or when detailed numerical inputs are not available—common in construction projects with many stakeholders and evolving information. Quantitative analysis (D), such as Monte Carlo simulation, is valuable when the project needs numerical estimates of overall schedule/cost risk and when reliable data exists, but it is not the default first step for simply ranking risks in a register. Claiming Monte Carlo was already done (B) is inappropriate without evidence. Saying qualitative analysis was already completed (C) may be true, but the question indicates the project manager has just been assigned and only knows risk identification has occurred; the responsible action is to perform (or confirm) qualitative analysis to produce an objective ranking. This provides a defensible prioritized risk list and supports focused response planning.

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