Name three qualitative risk identification techniques.

Name three qualitative risk identification techniques.

• A. Quantitative modeling; Monte Carlo; decision trees.
• B. Brainstorming; risk workshops; interviews/checklists.
• C. Benchmarking; KPI tracking; scorecards.
• D. Financial ratio analysis; break-even; NPV.

Answer: (B)

Qualitative risk identification relies on people’s experience and discussion to surface potential risks rather than to quantify them. Brainstorming invites a wide, free-flowing generation of possible risks from diverse viewpoints, without judging them on the spot. Risk workshops bring stakeholders together in a structured, facilitated session to systematically surface risks, explore their causes and interdependencies, and build a shared view. Interviews or checklists capture insights from experts and documented risk categories, helping to ensure that important but less obvious risks are not overlooked. Quantitative techniques like Monte Carlo simulations, decision trees, or other modeling focus on estimating numerical probabilities and impacts once risks are identified. Benchmarking, KPI tracking, and scorecards center on performance measurement and monitoring rather than identifying risks. Financial analysis tools such as ratio analysis, break-even, and NPV are used for financial appraisal, not risk identification. So the three qualitative risk identification techniques are brainstorming, risk workshops, and interviews/checklists.

Qualitative risk identification relies on people’s experience and discussion to surface potential risks rather than to quantify them. Brainstorming invites a wide, free-flowing generation of possible risks from diverse viewpoints, without judging them on the spot. Risk workshops bring stakeholders together in a structured, facilitated session to systematically surface risks, explore their causes and interdependencies, and build a shared view. Interviews or checklists capture insights from experts and documented risk categories, helping to ensure that important but less obvious risks are not overlooked.

Quantitative techniques like Monte Carlo simulations, decision trees, or other modeling focus on estimating numerical probabilities and impacts once risks are identified. Benchmarking, KPI tracking, and scorecards center on performance measurement and monitoring rather than identifying risks. Financial analysis tools such as ratio analysis, break-even, and NPV are used for financial appraisal, not risk identification.

So the three qualitative risk identification techniques are brainstorming, risk workshops, and interviews/checklists.