Description
Compare and evaluate in 500 words or more qualitative v quantitative risk assessment.
Explanation & Answer
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Running Head: DISCUSSION
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Discussion
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DISCUSSION
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Introduction
Risk assessment is the process of identifying risk factors, analyzing and evaluating the
risks, and determining the most appropriate way of eliminating the risk during a project. Risk
assessment is very crucial and must be done at the start and during the project to ensure that the
project is on course. Risk assessment has become a critical aspect of any industry as it increases
security and reduces costs hence greater accomplishments. “Risk management adds value and
offers many objectives to an organization.” (Alosaimi & Alnuem, 2016). Projects that do not
include a proper risk assessment procedures end up failing. Risk assessment can be either
qualitative or quantitative.
Differences between qualitative a...
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