Which risk analysis approach uses intuition, experience, and other best practices to assign nonnumeric values to risk, using methods such as brainstorming sessions, focus groups, surveys, and interviews?

Which risk analysis approach uses intuition, experience, and other best practices to assign nonnumeric values to risk, using methods such as brainstorming sessions, focus groups, surveys, and interviews?

• A. Delphi Technique
• B. Quantitative Risk Analysis
• C. Qualitative Risk Analysis
• D. Risk Scoring

Answer: (C)

Qualitative risk analysis focuses on evaluating risk without numbers, using subjective judgments to gauge probability and impact. It relies on intuition, experience, and established best practices. By pulling insights from stakeholders through brainstorming, focus groups, surveys, and interviews, risks are categorized into levels such as low, medium, or high rather than given numeric values. This creates a prioritized view of risks that guides where to focus mitigation efforts when data is sparse or when a quick, broad assessment is needed. In contrast, quantitative risk analysis uses numeric data and mathematical models to produce precise numerical estimates. The Delphi technique is a structured consensus method that can support risk estimation, but the description here aligns most closely with qualitative risk analysis because it emphasizes nonnumeric risk assignment derived from expert input.