Which of the following describes a qualitative risk assessment?

A qualitative risk assessment is characterized by its focus on subjective judgment to evaluate risks. This approach typically involves assessing risks based on factors such as the potential impact on the organization and the likelihood of occurrence, relying on expert opinions, team discussions, and stakeholder insights. This method allows for a rich understanding of risks beyond what numerical data might reveal, capturing nuances that might not be visible through purely quantitative measures.

Qualitative assessments are particularly useful in situations where data is limited or when trying to consider human factors and organizational culture, as they allow for a more holistic view of risks. Consequently, engaging stakeholders and analyzing their perceptions play a significant role in forming a comprehensive risk profile.

This approach contrasts with options suggesting a focus on numerical data, a complete lack of data collection, or the disregard of stakeholder opinions, as qualitative assessments inherently involve these elements.