What are the differences between qualitative and quantitative risk analysis?, assignment help

A common assumption following the completion of a
project would be that the sun would rise the next day. Suppose for a
moment the sun did not rise. The severity of this risk would threaten not only
the completion of this project but most other projects. In other words, the
risk posed by the sun not rising is extremely high; however, the likelihood of
that happening is relatively small.

On the other hand, consider a different sort of risk. Consider
that one of the billing system database servers has been destroyed.
The likelihood of this happening is considerably higher than the likelihood of
the sun not rising. Unless the database was not recently backed
up, the severity of this risk is relatively low. In other words, neither
of these risks rises to a level that would threaten the completion of the
project.

What are the differences between qualitative
and quantitative risk analysis? When is each type of analysis appropriate? What
type of analysis will you use for the customer service system project?

Assignment Guidelines:

• Address the following in
  750–800 words:
• What are the differences
  between qualitative and quantitative risk analysis? Explain.
• When is each type of
  analysis appropriate? Explain.
• What type of analysis
  will you use for the IRTC customer service system project? Why?

Use correctly APA style formatted references of solid academic
quality for your resources and use correctly formatted APA style in-text
citations to your references to substantiate your information and positions as
well as to give credit to other author’s work.