Qualitative Risk Assessment

Qualitative Risk Assessment is a method used to identify and evaluate potential risks in a project or situation based on subjective judgment rather than numerical data. It involves discussing and analyzing factors such as the likelihood of an event occurring and its potential impact on objectives. This process often uses categories like high, medium, and low to prioritize risks. The goal is to understand the risks better and develop strategies to manage them effectively, helping organizations make informed decisions without needing extensive quantitative analysis.