Defining each risk by a set of standard parameters including likelihood or probability,severity or impact,detection process,and mitigation plans best defines
A)quantitative risk management.
B)qualitative risk management.
C)risk probability.
D)risk regression.

Question

Quizplus · Accepted Answer

Qualitative risk management involves defining risks using standard parameters such as likelihood, severity, detection process, and mitigation plans. This approach does not involve numerical analysis, unlike quantitative risk management. Risk probability is a term used to describe the likelihood of a particular event occurring, but it is not the same as the process of defining risks using standard parameters. Risk regression is a statistical technique used to identify relationships between variables and is not directly related to risk management.

Defining Each Risk by a Set of Standard Parameters Including