Which of the following describes a qualitative risk assessment approach?

A qualitative risk assessment approach is characterized by the subjective analysis of the likelihood of a risk occurring and its potential impact. This method relies on the judgment and experience of the assessor to estimate the severity of a risk. It does not use numerical data or statistical methods, which are typical of quantitative assessments. Instead, it may use descriptors like ‘low’, ‘medium’, or ‘high’ to rate both the likelihoodof occurrence and the potential impact. This approach is useful when precise data is unavailable or when assessing complex, multifaceted risks where human insight is valuable.

References: The BCS Foundation Certificate in Information Security Management Principles outlines the importance of understanding the different approaches to risk assessment, including qualitative methods. It emphasizes the need for subjective analysis in certain scenarios and the role of experienced judgment in evaluating risks1.