Qualitative Risk Analysis Approach

The assignment requires a qualitative risk analysis approach for prioritizing identified risks. This involves designing a risk matrix with clear measurement scales for probability and impact, calculating a risk score, and determining how to use the output results to prioritize risks. The paper should demonstrate thoughtful responses, personal/work experiences, and proper citations using APA style.

Unit 4 Discussion Paper Instructions - Qualitative Risk Analysis
If (assumption only) you have a list of risks identified and loaded into the risk registers, you need
to prioritize which risks are the most important to focus our efforts on.
1. Discuss, design, the approach, process, and qualification rules by which you will perform
a risk qualification on the case study. Review the techniques that Prichard recommends
in Part II of his text.
2. At the heart of this process is the risk matrix. All of the course readings provide
examples of a risk matrix; feel free to use these as models. It is extremely important to
have clear measurement for probability and impact in the matrix. You should design
these probability and impact scales clearly.
3. Your matrix should enable you to calculate a risk score. You should define how the risk
score is calculated using your matrix. This score will ultimately be used to prioritize
which risks are low, medium, and high.
4. Consideration should be given in your discussion on how the output results will be used
by the project team and project manager to prioritize the most significant risks in the next
step of the risk management process, otherwise known as risk quantification. Note that
the more significant risks coming from the qualification step should have their probability
and impact estimated quantitatively during the risk quantification (next assignment).
Write a short paper (400-800 words in length) containing your answers. Successful papers
demonstrate:
 Thoughtful responses that compare/contrast/assess different authors' perspectives.
 Your insights as well as examples from your personal/work experiences that demonstrate
your ability to apply what you are learning.
 APA Citations documenting all Internet sources and assigned text readings that were used
to answer the questions.
 All references listed correctly at the end of the paper and cited properly using APA
in the paper.