Qualitative Risk Analysis
Prioritizing risks by assessing their probability and impact, usually on a relative scale.
Qualitative Risk Analysis prioritizes individual project risks by assessing each one’s probability of occurrence and its impact on objectives, using relative, descriptive scales rather than numeric data. Its signature tool, the probability and impact matrix, maps each risk to a composite score that guides where response resources go. The process updates the risk register with prioritized risks, watchlists for low-priority items, and risks flagged for further analysis. On the exam, remember qualitative always precedes quantitative analysis, which assigns statistical or financial values to the highest-priority risks and is not mandatory on every project.
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