TOPIC: Qualitative Risk vs. Quantitative Risk

Could someone please explain to me in some practical ways, what is the difference between these two process:

11.3 Perform Qualitative Risk Analysis and 11.4 Perform Quantitative Risk Analysis.

Thanks for the help!

Hi Andrew,

The easiest way to think about the difference is ranking vs. measuring risks.

11.3 Perform Qualitative Risk Analysis - this process is about prioritizing risks.
You assess each risk based on probability and impact (high/medium/low or similar scales) and focus on which risks matter most.
Output: a shortlist of high-priority risks that need attention.

11.4 Perform Quantitative Risk Analysis - this process is about numerically analyzing the impact of the most critical risks.
You use numbers and models to estimate how risks could affect schedule and cost.
Examples: Monte Carlo simulation, decision tree analysis, expected monetary value (EMV).
Output: numerical estimates of risk exposure (e.g., “there’s a 70% chance the project will finish within X budget”).

Overall:
If you see numbers, simulations, or EMV, it's quantitative.
If you see ranking, matrices, or prioritization, think qualitative.

Hope this helps and good luck with your prep!
-Lena