Question:
According to the Project Management Institute (PMI), both qualitative and quantitative risk analysis techniques are used to prioritize and determine the likelihood of risks. Compare and contrast quantitative versus qualitative analysis and discuss two situations that warrant only the use of qualitative analysis.
Qualitative risks are typically categorized by a group of experts to determine the probability and the impact to project objectives. In responding to your peers, consider the next steps you would take as project manager to assemble a group of experts to participate. Who would you select and why?