The risk data quality assessment is a project management technique that is used to evaluate the level or degree to which data about risks is necessary for risk management. This technique also involves analyzing the dress which the risk is understood. It also looks into the accuracy, reliability, quality and integrity of the data concerning the risk.
This project management tool focuses on ensuring that the information being used in performing the risk analysis is credible and unbiased. It works on the premise that if the quality and credibility of the information cannot be trusted, how can the findings be reliable?
The risk data quality assessment evaluates the information by asking if the data is credible, of high quality, accurate and understood properly. Not evaluating the credibility of the information or data can often lead to an incorrect analysis that can make the project activities highly susceptible to risks.
If the information is not reliable, then fixing it is far less costly compared to the impact of risks if it materializes. These are the reasons why the risk data quality assessment is often employed in project management planning.
This term is defined in the 5th edition of the PMBOK.