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
