Define qualitative and quantitative risk analysis. Describe qualitative and quantitative tools and techniques presented in the readings. Discuss the strengths and weaknesses of at least three.

Why is it important to categorize and prioritize risks? What tools would you consider for risk prioritization, categorization, and probability of occurrence for your selected project and industry? Under what conditions would you use quantitative risk analysis instead of qualitative risk analysis.

Which tools and techniques resonates with you the most? Why?

A minimum of two peer-reviewed sources are required.