Explain qualitative risk analysis.

What will be an ideal response?


In qualitative risk analysis, the measures that are used are typically a set of nominal values such as high, medium, and low. These categories are then given numbers so that the weights of relationships can be characterized. Using those nominal values, it is possible to distinguish between items receiving a score of high and those receiving a score of medium, for instance. Since it is not possible to truly rank different elements of the same class, the actual measurement itself is not precise. Nevertheless, since one of the main purposes of the risk analysis function is to determine priorities, qualitative analysis can be useful.

Computer Science & Information Technology

You might also like to view...

Draw all candidate subgraphs obtained from joining the pair of graphs shown in Figure 7.2. Assume the edge-growing method is used to expand the sub- graphs.

Computer Science & Information Technology

You must have an email account set up in Outlook to send the meeting request.

Answer the following statement true (T) or false (F)

Computer Science & Information Technology

If you have data that is organized into more than one column–not counting labels–use a ________ chart to compare values in the columns

A) column B) line C) bar D) clustered column

Computer Science & Information Technology

An object that is being thrown cannot be an anonymous object.

Answer the following statement true (T) or false (F)

Computer Science & Information Technology