What are some effective risk assessment techniques?

What are some effective risk assessment techniques?

There are several effective risk assessment techniques, including qualitative and quantitative methods. Would you like to know more about a specific type?

Yes, can you explain qualitative risk assessment?

Qualitative risk assessment involves identifying risks and evaluating their impact and likelihood using subjective judgment. It's often done through interviews and brainstorming sessions.

How does it differ from quantitative risk assessment?

Quantitative risk assessment uses numerical data and statistical methods to evaluate risks, providing measurable outcomes. In contrast, qualitative assessment is more subjective.

Can you give me an example of a qualitative risk assessment?

Sure! An example would be conducting a workshop where team members identify potential risks in a project and discuss their possible impacts and likelihoods.