Qualitative Risk Assessment
A qualitative risk assessment is a type of risk assessment that involves the evaluation of potential risks based on subjective judgments and expert opinions.
It is a more subjective and less formal approach to risk assessment than a quantitative risk assessment, which uses mathematical and statistical methods to estimate the likelihood and impact of risks. In a qualitative risk assessment, risks are generally ranked and prioritized based on factors such as the likelihood of the risk occurring, the potential impact of the risk, and the organization's ability to control or mitigate the risk.
The results of a qualitative risk assessment are typically presented in the form of a risk register or matrix, which can inform decision-making and guide the development of a risk management plan.