4. Semi-quantitative risk characterization

4. Semi-quantitative risk characterization Introduction Semi-quantitative risk assessment provides an intermediary level between the textual evaluation of qualitative risk assessment and the numerical evaluation of quantitative risk assessment, by evaluating risks with a score. It offers a more consistent and rigorous approach to assessing and comparing risks and risk management strategies than does qualitative risk assessment, and avoids some of the greater ambiguities that a qualitative risk assessment may produce. It does not require the same mathematical skills as quantitative risk assessment, nor does it require the same amount of data, which means it can be applied to risks and strategies where precise data are missing.

38 Semi-quantitative risk characterization Being able to review a larger number of risks and possible risk management strategies in one analysis gives the risk manager a better ‘aerial view’ of the problem, and helps strategize at a

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  Analysis, Management, Risks, Characterization, Quantitative, Semi, Semi quantitative risk characterization

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