The two basic functions of the qualitative risk analysis process are risk identification and risk assessment. Risk identification entails identifying all potential risks that could have any amount of impact on a project and its end goal. By doing so the team can then strategize ways to either mitigate and or avoid all together these potential risks. Risk assessment is when the team will then look at the identified risks and categorize them by likelihood and impact in a high, medium, or low scale. This will help the project manager and team focus time, attention, and resources to risks identified as most crucial and important