2.7 Risk Analysis Methodologies Risk analysis is the process of ranking of various risk so that areas of high can be prioritized for treating them. Risk can be measured and ranked by use of any of the following methods: Quantitative Risk Assessment Qualitative Risk Assessment Semi-quantitative Risk Assessment Factor that influence the selection for above technique is availability of accurate data for risk assessment. When data source is accurate and reliable, organization will prefer quantitative risk assessment as it will give risk value in some numeric terms like monitory values. Monetary value is easy to evaluate to determine the risk response. Quantitative Risk Assessment In quantitative risk assessment, risk is measured on the basis on numerical values. This helps in cost benefit analysis as risk in monetary term can be easily compared to cost of various risk responses. In quantitative risk assessment, various statist...