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Quantitative and Qualitative Analysis (Article Critique Sample)


In week 5, compare and contrast two types of risks assessments: Quantitative and Qualitative. The initial post must be completed by Thursday at 11:59 eastern. You are also required to post a response to a minimum of two other student in the class by the end of the week. You must use at least one scholarly resource. Every discussion posting must be properly APA formatt


Qualitative vs. quantitative analysis
Qualitative and quantitative analysis is essential and fundamental to a project becoming successful regardless of the size and scale, time, and budget. Quantitative and qualitative risk valuation are methods used by a group of people under carrying a project to analyze the possible occurrence of risk along with the project (MindEdge, 2019). Qualitative risk is less compound than quantitative valuation, and however qualitative assessment is primarily applied in a small to an average-sized project. In contrast, quantitative assessment uses Low, Average, and high scales to specify the probability of a risk event happening. On the other hand, the qualitative analysis of risk depends on the likelihood of an inherently particular method, where quantitative risk analysis depends on mathematical methods for risk evaluation.
Nevertheless, qualitative assessment applies particular judgment based on non-quantifiable data, for example, management proficiency, commerce cycles, the intensity of research and implementation, and industry relations. On the contrary, the quantitative assessment focuses mainly on the numbers found in reports such as trial balance and balance sheets (Smith, 2019). Both techniques are sometimes applied together to evaluate an organization's performance and analyze the

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