University Name: Qualitative and Quantitative Research Report

This report delves into the realms of qualitative and quantitative research, examining their distinct approaches to risk assessment within a business context. The report highlights the strengths of the qualitative approach, such as in-depth data analysis and the ability to provide authenticated data, which is crucial for understanding complex project dynamics. However, it also acknowledges the weaknesses, including potential ambiguity in basic project concepts. Conversely, the quantitative approach is presented for its clarity in project understanding and its ability to mitigate risk issues. Yet, the report also points out its weakness: the data generated may not always reflect real-time scenarios. The report provides examples to illustrate how each approach can be applied in practical situations like machinery management and repair mechanisms, offering a comprehensive overview of their utility in project management. References are provided for further reading on project management and risk assessment.

Running Head: Qualitative and Quantitative Research
Qualitative and Quantitative Research
Name of the Student
Name of the University
Authors note

2QUALITATIVE AND QUANTITATIVE RESEARCH
Table of Contents
Qualitative Approach.......................................................................................................................3
Strength:.......................................................................................................................................3
Weaknesses:.................................................................................................................................3
Quantitative Approach.....................................................................................................................4
Strength........................................................................................................................................4
Weakness.....................................................................................................................................4
References........................................................................................................................................6

3QUALITATIVE AND QUANTITATIVE RESEARCH
The main security issues that are present in the course of the processing of the qualitative
and quantitative approach to the risk assessment are as follows: -
Qualitative Approach
Strength:
The strengths that are present in the prosecution of the risk management with the help of the
qualitative approach are as follows: -
 The in depth knowledge regarding the processing of the data management can be
achieved with the help of the qualitative approach to business management. This will
help in better analysing of the risk. This is one of the main reason that acts as the
prosecuting aspect of the data handling in an efficient manner (Meredith & Mantel,
2012). In case the in depth knowledge regarding the processing of the business will not
be present the terminologies regarding the identification of risk management will get
difficult for the team of embers working for the project.
 The data that are generated with the help of the qualitative approach is very much
authenticated. This is the reason that the data that are used to analyse the risk are very
correct in nature (John Wiley & Sons, 1995). This helps in netter management of the
project. In case the risk management is performed with the help of the correct data the
results that are to be received are correct in nature.
Weaknesses:
The weakness that are present in the course of risk management are as follows: -

4QUALITATIVE AND QUANTITATIVE RESEARCH
 Basic concepts of the project are unclear. This leads to the fact that the terminologies that
are required for assessing the risks will get hampered. This is the reason that the
projection of the risks management will affect the functioning of the project. In case the
termination of the project that are present in the completion of the project will affect the
functioning of the project completion
 Example: In case the risk that is present in the curse of the management of the workshops
as the detailed knowledge that is present in the course of the management of the
machinery devices requires qualitative approach as the conceptual knowledge is required.
Quantitative Approach
The strengths that are present in the course of risk management are as follows: -
Strength
The strengths of implementing the quantitative approach are as follows: -
 The basic concepts of the project completion are well understood with the help of this
approach. With the help if the proper understanding of the knowledge regarding the
commencing of the project includes the fact that the risk issues can be mitigated and the
understanding of the project will be very high.
 With the help of the research that are made with the help of the quantitative approach will
proclaim the fact that the commencement of the risk assessment. In case the risk
assessment is performed with the help of the quantitative approach will enhance the
functioning of the risk management

5QUALITATIVE AND QUANTITATIVE RESEARCH
Weakness
The weakness that is present in implementing the quantitative approach is as follows: -
 The data that are generated in the time of risk assessment does not provide the real time
scenario and this is the reason that the projection of the data management is considered to
be very vague (Simons, 1999). In case the relativity of the data that are used in the
projection of the risk management is not present the entire process goes in vain.
Example: In case the project is related to the projection of the proposing of the mechanism that
are required for the repairmen of the machines. In this case the basic concepts are cleared with
the help of the authenticated data that are generated by the authors.

6QUALITATIVE AND QUANTITATIVE RESEARCH
References
Meredith, J.R. & Mantel, S.J. (2012) Project management: a managerial approach. 8th ed.
Hoboken, NJ:
John Wiley & Sons, Inc.
Mitchell, V.W. (1995) ‘Organizational risk perception and reduction: a literature review’.
British Journal of Management, 6, pp. 115-133.
Simons, R.L. (1999) ‘How risky is your company?’ Harvard Business Review, 77(3), pp. 85-95.