You work as a project manager for TYU project. You are planning for risk mitigation. You need to quickly identify high-level risks that will need a more in-depth analysis. Which of the following activities will help you in this?

Qualitative risk analysis is used to quickly assess and prioritize identified risks for further action. It uses subjective scales (e.g., low, medium, high) to evaluate the probability and impact of each risk. This method is ideal for rapidly identifying high-level, significant risks that require a more detailed, in-depth analysis (such as quantitative analysis) or immediate mitigation planning, which directly matches the project manager's need in the scenario.

B. Quantitative analysis is a more in-depth, time-consuming process that assigns numerical values to risks and is performed after initial prioritization.
C. Risk mitigation is a risk response strategy implemented after risks have been identified and analyzed, not an activity for initial identification.
D. Estimating activity duration is a project scheduling task, not a risk identification or analysis technique.

1. National Institute of Standards and Technology (NIST). (2012). Guide for Conducting Risk Assessments (NIST Special Publication 800-30, Revision 1). Section 3.4, Risk Analysis. "Risk analysis can be qualitative or quantitative... Qualitative risk analysis prioritizes risks for further action... based on their probability of occurrence and the extent of their impact."

2. University of Washington. (n.d.). Project Management Processes, Tools and Techniques. IT Project Management Courseware. Section: Risk Management. "Qualitative Risk Analysis is a simple and quick method to prioritize risks... It allows the project team to 'triage' risks and focus on the most critical ones."

3. Hubbard, D. W. (2009). The failure of risk management: Why it's broken and how to fix it. John Wiley & Sons. Chapter 4 discusses the limitations and proper use of qualitative scoring methods for initial risk triage before more rigorous analysis.