Question

Scenario:- As you are aware, that risk management is an extremely important aspect in any sort of project. Perform Qualitative risk analysis for a developing and implementing eCommerce Portal and also draw Threat and opportunity matrix using various colours. (Take maximum 5-10 top risks and perform qualitative risk analysis​

Answer 1

Answer:

you are very intelligent boy

Answer 2

Answer:

What is Qualitative Risk Analysis?

"The consideration of a range of characteristics such as probability of occurrence, degree of impact on the objectives, manageability, timing of possible impacts, relationships with other risks, and common causes or effects." —PMI Standard for Risk Management in Portfolios, Programs, and Projects

What is Risk?

The concept of risk is confusing to many people. So, let’s review its definition. The Project Management Body of Knowledge (PMBOK) defines an individual risk as “an uncertain event or condition, that if it occurs, has a positive or negative effect on one or more project objectives.”

Let’s break this down a bit more.

Notice that risks are uncertain events or conditions. That is to say, a key attribute of risk is uncertainty. Think in terms of things that may or may not happen in the future.

Next, consider that the uncertainty may have a positive or negative effect. In every project, there are opportunities that we can exploit, enhance, and share. There are also threats that we can avoid, mitigate, and transfer.

Lastly, risks can affect one or more project objectives such as schedule, budget, scope, and quality. Effective risk management always focuses on achieving the project objectives–the result to be obtained.

Now that we understand risk, let’s turn our attention to evaluating risks.

Want to know how to identify risks? Read my post: How to Actually Identify Project Risks.

Why Perform Qualitative Risk Analysis?

Project managers and teams must deal with competing demands. There is often more work to be done than there is time. Therefore, we must prioritize our work.

Here’s the bottom line:

The goal of evaluating risks is to discriminate between one risk and another. Then we can determine the time and budget to invest in responding to our risks.

With many risks, we will choose to do nothing. The probability and impact are not great enough to merit a response (more on this later). Thus, we simply accept the risk.