Page 8 - Risk Management

Risk Analysis

• Risk analysis involves development of
an understanding of the risks

identified.

• There are two distinct stages/aspects
of Risk Analysis: qualitative and

quantitative risk analysis.

• Qualitative risk analysis includes
considering the causes and
consequences of risks and their
likelihood of occurrence.

• Quantitative risk analysis projects
uncertainty and risk events to
produce numerical outputs

expressing the riskiness of the project
overall at differing probability levels.