You work as a project manager for BlueWell Inc.

Qualitative risk analysis is the best answer as it is a fast and low-cost approach to analyze the risk impact and its effect. It can promote certain risks onto risk response planning. Qualitative Risk Analysis uses the likelihood and impact of the identified risks in a fast and cost-effective manner. Qualitative Risk Analysis establishes a basis for a focused quantitative analysis or Risk Response Plan by evaluating the precedence of risks with a concern to impact on the project's scope, cost, schedule, and quality objectives. The qualitative risk analysis is conducted at any point in a project life cycle. The primary goal of qualitative risk analysis is to determine proportion of effect and theoretical response. The inputs to the Qualitative Risk Analysis process are: Organizational process assets Project Scope Statement Risk Management Plan Risk Register Answer: B is incorrect. Historical information can be helpful in the qualitative risk analysis, but it is not the best answer for the question as historical information is not always available (consider new projects). Answer: D is incorrect. Quantitative risk analysis is in-depth and often requires a schedule and budget for the analysis. Answer: C is incorrect. Rolling wave planning is not a valid answer for risk analysis processes.