What is Qualitative Risk Analysis?

A qualitative risk analysis is similar to taking a deeper look at the risks you’ve discovered in order to better understand them, much as checking several weather predictions to determine the possibility of rain. Instead of numbers and precise measurements, this strategy assesses the likelihood and effect of hazards using descriptive phrases such as high, medium, or low. It assists project managers in determining which risks are more serious or urgent, allowing them to focus their efforts on the most essential issues. It is essentially a method of evaluating risks using more subjective indicators, allowing teams to prioritize which hazards require the greatest attention or action.