Potential versus Delayed Risk:
Risk Types:
Potential risk: Experienced at the time of exposure.
Delayed risk: Experienced later
Delayed loss is harder to identify, compared to potential loss
An effective risk analysis will identify several different types of potential losses & delayed losses
Qualitative versus Quantitative
Risk Analysis Approaches
A quantitative risk analysis uses percentages & monetary numeric values.
A qualitative risk analysis is based on opinions & experience. It uses a rating system.
A qualitative approach relies on information coming from company experts, who are closest to the assets.
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