Project risks may be defined qualitatively or quantitatively In some cases, a project may begin with defining risks qualitatively and later move to quantitative aspect There are also cases where a project may define some of its risks qualitatively, and some of its risks quantitatively Respond to the following questions Clearly describe and provide examples of qualitative risk definition and quantitative risk definition What factors would you consider when determining whether to use a qualitative approach, quantitative approach or a hybrid approach Which approach would you use on a project and why

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Question: Project risks may be defined qualitatively or quantitatively . In some cases, a project may begin with defining risks qualitatively and later move to quantitative

Project risks may be defined qualitatively or quantitatively.

In some cases, a project may begin with defining risks qualitatively and later move to quantitative aspect. There are also cases where a project may define some of its risks qualitatively, and some of its risks quantitatively.

Respond to the following questions:

Clearly describe and provide examples of qualitative risk definition and quantitative risk definition.
What factors would you consider when determining whether to use a qualitative approach, quantitative approach or a hybrid approach?
Which approach would you use on a project and why?

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