When is each type of analysis appropriate


Assignment

A common assumption following the completion of a project would be that the sun would rise the next day. Suppose for a moment the sun did not rise. The severity of this risk would threaten not only the completion of this project but most other projects. In other words, the risk posed by the sun not rising is extremely high; however, the likelihood of that happening is relatively small. On the other hand, consider a different sort of risk. Consider that one of the billing system database servers has been destroyed. The likelihood of this happening is considerably higher than the likelihood of the sun not rising.

Unless the database was not recently backed up, the severity of this risk is relatively low. In other words, neither of these risks rises to a level that would threaten the completion of the project. What are the differences between qualitative and quantitative risk analysis? When is each type of analysis appropriate? What type of analysis will you use for the customer service system project?

Assignment Guidelines:

• Address the following in 750-900 words:

- What are the differences between qualitative and quantitative risk analysis? Explain.
- When is each type of analysis appropriate? Explain.
- What type of analysis will you use for the IRTC customer service system project? Why?

Format your assignment according to the following formatting requirements:

1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.

2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.

3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.

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Business Management: When is each type of analysis appropriate
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