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Qualitative Risk Analysis

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Qualitative risk analysis is more scenario based than it is calculator based. Rather than assigning exact dollar figures to possible losses, you rank threats on a relative scale to evaluate their risks, costs, and effects. Since a purely quantitative risk assessment is not possible, balancing the results of a quantitative analysis is essential. The method of combining quantitative and qualitative analysis into a final assessment of organizational risk is known as hybrid assessment or hybrid analysis. The process of performing qualitative risk analysis involves judgment, intuition, and experience. You can use many techniques to perform qualitative risk analysis:

 Brainstorming

 Storyboarding

 Focus groups

 Surveys

 Questionnaires

 Checklists

 One-on-one meetings

 Interviews

 Scenarios

 Delphi technique

Determining which mechanism to employ is based on the culture of the organization and the types of risks and assets involved. It is common for several methods to be employed simultaneously and their results compared and contrasted in the final risk analysis report to upper management. Two of these that you need to be more aware of are scenarios and the Delphi technique.

(ISC)2 CISSP Certified Information Systems Security Professional Official Study Guide

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