Describe the two basic functions of the qualitative risk analysis

othereyeshmt4l

othereyeshmt4l

Answered question

2022-05-09

Describe the two basic functions of the qualitative risk analysis process and explain why a project manager should perform a qualitative risk analysis prior to quantitative risk analysis.

Answer & Explanation

Brennan Frye

Brennan Frye

Beginner2022-05-10Added 20 answers

Talking about the basic functione of qualitative risk analysis then the following two rsik analysis functions is given below:
1) Risk Identification;; The first is thw step identification that involves indentying what are the risk associted with the project so that we can find out alternatives to cope with that. Also, we will pook into hwta measures we will take in order to increase the productivity of the project.
2) Risk Estimation; The second is the risk estimation that involves estimating theakor consequences that will happen if something happened dueing the project is work wnd thus,estimation plays an important role.
The reason why a project manager should perform a qualitative risk analysis prior to quantitative risk analysis is being given below:
1) The qualitative risk analysis gives us the reason why the brand will loss thw customers if any and quantitative will helps us in following how much we actually hoing tk lose.
2) Qualitative gives thw reasons to understand what should not done or what should be yaken into consideration and quantitative will hel us in measuring those in actual numbers.

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