Quick and High-Level Risk Analysis

B.

Qualitative risk analysis is a high-level, fast review of the risk event.

Qualitative risk analysis qualifies the risk events for additional analysis.

The type of analysis that provides a quick and high-level review of each identified risk event is the Qualitative risk analysis.

Qualitative risk analysis is a risk analysis technique that identifies the probability and impact of the identified risks, based on a subjective and expert-based approach. It provides a high-level review of each identified risk event by assessing the likelihood of the risk occurring and the potential impact of the risk on the project objectives.

The qualitative risk analysis involves assigning a risk score to each identified risk based on its likelihood of occurrence and the severity of its impact. This score is usually represented in a risk probability-impact matrix or a risk register. The matrix provides a visual representation of the likelihood and potential impact of each identified risk, and helps prioritize the risks that require immediate attention.

Quantitative risk analysis, on the other hand, is a more in-depth risk analysis technique that involves assigning numerical values to the identified risks based on statistical data and mathematical models. This type of analysis is typically used in more complex projects and is more time-consuming and resource-intensive than qualitative risk analysis.

The Seven Risk Responses refer to the strategies for addressing identified risks, including avoidance, transfer, mitigation, acceptance, exploitation, enhancement, and sharing. While important, this is not an analysis of the probability and impact of the risks.

In conclusion, Qualitative risk analysis is the type of analysis that provides a quick and high-level review of each identified risk event, by assessing the likelihood and potential impact of each risk based on a subjective and expert-based approach.