Qualitative risk analysis is often used to quickly spot areas that need more attention. It is used to quickly identify the risks that have high or very high consequences. In qualitative risk analysis, constructivist perspectives or words are used. Once these risks are identified, they can then be further analyzed using more qualitative tools.
Quantitative risk analysis generally follows qualitative risk analysis. Quantitative risk analysis uses post-positivist statements for expanding knowledge. It uses numbers or statistics.
Complete a qualitative and quantitative risk analysis for the following objective: Getting an A grade in this course!