Risk assessment is a critical process for identifying, analyzing, and prioritizing potential risks. Below are common methodologies used in risk evaluation:

1. Qualitative Analysis ✅

This approach relies on subjective judgment to evaluate risks based on their likelihood and impact.

Qualitative_Analysis
*Example: Using risk matrices or SWOT analysis for high-level insights.*

2. Quantitative Analysis 📌

Centers on numerical data to calculate risks statistically.

Quantitative_Methods
*Tools like Monte Carlo simulations or probability-impact matrices are often employed.*

3. SWOT Analysis 📊

Assesses strengths, weaknesses, opportunities, and threats.

SWOT_Analysis
*Useful for strategic planning in business and project management.*

4. Risk Matrix 🪜

Visualizes risks by plotting their probability vs. impact.

Risk_Matrix
*High-risk areas are highlighted for immediate action.*

For more information, visit our Risk Assessment Tools Guide to explore practical applications.