Risk Analysis Evaluation

Risk Analysis Evaluation

This reading (linked in Resources) provides information about risk analysis you may find useful for this discussion:

• Kerzner, H. R. (2017). Project management: A systems approach to planning, scheduling, and controlling (12th ed.). Hoboken, NJ.
  • Section 17.9, “Qualitative Risk Analysis,” pages 615–616.
  • Section 17.10, “Quantitative Risk Analysis,” pages 616–617.

Qualitative risk analysis quickly spots areas that need more attention. It identifies the risks that have high or very high consequences. Qualitative risk analysis uses “constructivist” perspectives or words. Once these risks are identified, they can then be further analyzed using additional qualitative tools.

Qualitative risk analysis focuses on discovering the probability of a risk event occurring and the impact the risk will have if it occurs.

Quantitative risk analysis uses post-positivist statements for expanding knowledge. It uses numbers or statistics.

Complete a qualitative and quantitative risk analysis, in 3–4 paragraphs, for the following objective:

• “Getting an A grade in this course.”