Qualitative and Quantitative Risk Analysis

Submitted by Awtas on Mon, 02/07/2011 - 15:40

Can someone explain what is the difference between those two?

For me it looks that in both cases you need to identify impact and prioritize, what am I missing?

 

 

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admin

Tue, 02/08/2011 - 04:33

Qualitative analysis is done based on your experience, you rank a risk high, med or low based on what you think , or past data of organization etc.


Quantitative analysis on other hand is based on mathematical models, the prioritizaiton is done by applying some maths to the risks to come up with exposure and hence the final priority.

Awtas

Tue, 02/08/2011 - 15:28

Thank you,

So those two are performed both together as one activity in most cases.