Qualitative and Quantitative Risk Management

This learning package covers the identification and management of risk. It breaks this down into three component parts; risk identification and analysis, risk management planning and risk response planning. Each of these topics is covered in detail an includes a set of practical tools and techniques.

Risk identification and analysis looks at qualitative approaches to qualifying and prioritising risks that have been identified and goes on to evaluate the likely consequences of the risks using established qualitative-analysis methods and tools.

Risk management planning, which is the process of deciding how to approach and plan for the risk management activities of a project, is explained in considerable detail and uses practical tools and techniques to illustrate how to manage and evaluate risk.

Risk response planning is the process of developing options and determining actions to enhance opportunities and reduce threats to a project’s objectives. It includes the identification and assignment of responsibility to individuals and parties for each agreed risk response.

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