Completing Qualitative Analysis

During the risk identification process, all possible risks are identified. Of course, not all risks are worth responding to, while others demand attention. Qualitative analysis is a subjective approach to organizing and prioritizing risks. Through a methodical and logical approach, the identified risks are rated according to probability and potential impact.

The outcome of the ranking determines four things:

• It identifies the risks that require additional analysis through quantitative risk analysis.

• It identifies the risks that may proceed directly to risk response planning.

• It identifies risks that are not critical, project-stopping risks, but that still must be documented.

• It prioritizes risks.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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