Lemieux 2004 (†405)Lemieux, L. Victoria. Managing Risks for Records and Information. ARMA International 2004.
- qualitative risk assessment : Having assessed the probability and impact of a risk, the assessed level of risk maybe expressed in quantitative or qualitative terms or a mixture of the two. A qualitative risk measurement includes assigning a ranking, such as high, medium, or low, to the probability and impact of a risk, based on a predefined scale. The validity of the ranking will be based on the consistent use of a well-defined scale. A qualitative risk assessment could also be expressed numerically, with the same meanings still assigned to the rankings. (†884)
- quantitative risk assessment : A quantitative risk measurement may also be used to express the assessed level of risk. For example, the value of the resources that would be lost if the risk were to occur is a quantitative risk measurement. The UK Office of Commerce advises using quantitative analysis only if the information forms an important support to decisions on responding to the risk. (†885)