QuestionQ125

VerifiedRisk Assessment

Jonathan was assigned to conduct the risk-assessment process for a logistics-based startup. As part of the assignment, he had to spend time in the organization and interact with people in order to prioritize the various risks facing the organization. After reviewing the organization’s risks, he classified them in the following order:

Very Low -

Low -

Medium -

High -

Very High -

Which assessment method did Jonathan use to carry out the risk assessment?

Explanation

Qualitative risk assessment evaluates and prioritizes risks using nonnumeric categories or descriptors such as very low, low, medium, high, and very high. It does not assign numerical scores or probabilities, which would indicate a semi-quantitative or quantitative approach.

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