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Name two (2) types of risk analysis that are qualitative and quantitative, then state the pros and cons of the use of each one.

Name two (2) types of risk analysis that are qualitative and quantitative, then state the pros and cons of the use of each one.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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  1) Name two (2) types of risk analysis that are qualitative and quantitative, then state the pros and cons of the use of each one.

 
 
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Risk analysis is nothing but the approach of recognizing and assessing potential risks or issues that could impact important business initiatives and projects negatively. Risk analysis helps the organization to mitigate or avoid the risks. Performing the risk analysis comprises considering the likelihood of adverse scenarios or incidents caused by either natural forces such as flood and earthquake or inadvertent activities performed by humans. 

 

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