Qualitative risk assessment

Jonathan kambaja Patrick musungayi Djo ilele Stael kitoto

Introduction
Qualitative Risk Analysis assesses the impact and likelihood of the identified risks in a rapid and cost-effective manner.

Input Tools and techniques output

Risk register
Risk register: a management tool commonly used within a project management Its a means of recording identified risks Dates Severity and impact of risk Mitigation activity Description of the risk, etc..

Risk mgmt plan

Risk management is a structured approach to managing uncertainty and includes actions taken to identify, assess, monitor and reduce the impact of risks to your business i.e.: this is a small program made by Hereford & Worcester Fire and Rescue Authority to modernise local fire and rescue services

Project scope statement:

The Project Scope Statement details the project objectives, deliverables, assumptions, constraints, schedule, budget, and configuration management requirements

Organizational process assets

Organizational process assets are any of your company's policies or procedures which assist in understanding the current project's risks

Risk probability and impact assessment

The manager need to prioritize risks linked to the project in order to focus on the more critical Risks. -probability: a risk is an event that may occur. -impact: the size of the impact of the risk.

Guidelines
List all the possible risk of the project. Assess the probability of each risk occurring. Assess the impact of each risks on the project. Map out the rating on the chart.

Probability and impact chart

From http://www.mind tools.com

Risk data quality assessment

A method uses to evaluate the accuracy and reliability of the data(rating) we have gathered for the risk analysis. -Extent to which the risk is understood -Data availability -Data quality -Data integrity and reliability

Risk categorization
The risk categorization is performed to determine which area of the project is the most Affected.

Example
refere nce 1 Risk category considerations financial -reduction in income and investment -reduction in external investment in research -inadequate provisions for litigation - potential for negative impact on liquidity position - potential for financial loss -insurances, expenditure, debt and budget overruns -reliance on IT systems or laboratories - equipment failure and business interruptions - recent new systems versus obsolete technology - reliance on electronic networks across campuses -water, soil, air contamination -waste management and inappropriate land use -incidents, accidents and emergencies

Technological

Environmental risk

output
Urgent risks. List of risks requiring response in the near-term List of risks for additional analysis and response. Some risks might warrant more analysis, including Quantitative Risk Analysis, as well as response action.

Output
Watch lists of low priority risks. Risks that are not assessed as important in the Qualitative Risk Analysis process can be placed on a watch list for continued monitoring Trends in qualitative risk analysis results. As the analysis isrepeated, a trend for particular risks may become apparent, and can make risk response or further analysis more or lessurgent/important.