Qualitative risk analysis is the process of assessing risks usingdescriptive,non-numerical, andcategoricalscales to evaluate:

Probability (likelihood)

Impact (severity)

It often uses terms like:

Low / Medium / High

Minor / Moderate / Severe

Likely / Unlikely

This analysis supports prioritization, but the definition itself is aboutdescribing impact and probability, not financial quantification.

Why other options are incorrect:

Adescribes quantitative risk analysis (monetary values).

Bis incomplete; qualitative analysis assesses both impact AND likelihood.

Dis an outcome of qualitative analysis, not the definition.

Thus,Cis the correct answer.

EPI DCFOM-Aligned Reference Concepts (Paraphrased)

Qualitative analysis assesses likelihood and impact using descriptive scales.

Used when monetary or statistical values are not required.