Which of the following is NOT the method of Qualitative risk analysis?
Click on the arrows to vote for the correct answer
A. B. C. D.D.
Business process modeling (BPM) and simulation is a method of Quantitative risk analysis and not Qualitative risk analysis.
The BPM and simulation discipline is an effective method of identifying and quantifying the operational risk in enterprise business processes.
It improves business process efficiency and effectiveness.
Incorrect Answers: A, B, C: These three are the methods of Qualitative risk analysis.
Qualitative risk analysis is a risk analysis method that involves assessing risks based on subjective and non-numeric data, such as expert judgment, experience, and intuition. It is commonly used when there is a lack of sufficient data or time to conduct a quantitative risk analysis.
The four methods of Qualitative risk analysis are as follows:
A. Scorecards: This method involves evaluating the risks based on a set of predetermined criteria or attributes. The risks are assigned scores based on their likelihood, impact, and other relevant factors. The scores are then used to prioritize the risks.
B. Attribute analysis: This method involves assessing the risks based on their attributes, such as severity, likelihood, and impact. The risks are then ranked based on their attributes and prioritized accordingly.
C. Likelihood-impact matrix: This method involves plotting the likelihood of occurrence of a risk against its potential impact on the project or organization. The risks are then prioritized based on their position in the matrix.
D. Business process modeling (BPM) and simulation: This method involves using BPM techniques and simulation tools to analyze the risks associated with a particular business process. The risks are identified, modeled, and simulated to determine their potential impact on the process.
Therefore, the answer to the question is D. Business process modeling (BPM) and simulation is NOT a method of Qualitative risk analysis. It is a risk analysis method that is used to analyze the risks associated with a particular business process, but it is typically classified as a quantitative risk analysis method, as it involves using numerical data and simulation tools to assess risks.