Qualitative Risk Analysis

Qualitative Risk Analysis is a process used to identify and assess potential risks within a project or organization based on their likelihood and impact. Instead of using numerical data, it focuses on expert judgment and insights to categorize risks as low, medium, or high. By analyzing these risks qualitatively, organizations can prioritize what needs attention, determine strategies to manage or mitigate them, and enhance decision-making without getting bogged down by complex calculations. This approach helps in understanding the nature of risks and prepares organizations to respond effectively.