Risk analysis refers to the procedure for identifying risk factors and assessing their significance. Thus, risk is the likelihood that certain undesirable events will occur that adversely affect the achievement of the goals of a particular business process. Risk analysis includes risk assessment and methods to reduce risks or reduce adverse effects associated with it.
Risk analysis can be divided into two mutually complementary types: qualitative and quantitative. Qualitative analysis aims to identify (identify) factors, areas and types of risks. A quantitative risk analysis should provide an opportunity to quantify the size of individual risks and the overall risk in general. The final results of the qualitative risk analysis, in turn, serve as initial information for conducting a quantitative analysis.
However, the implementation of a quantitative assessment meets the greatest difficulties associated with the fact that a quantitative assessment of risks requires appropriate baseline information and a well-defined jackal of assessment.