Terminology Index
Glossary
1801 terms
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Qualitative Risk
Risk analysis expressed in non-numeric, descriptive terms such as high/medium/low or red/amber/green, common in GRC for its accessibility, often paired with structured criteria for consistency.
Qualitative risk analysis uses descriptive scales rather than numbers: rating likelihood and impact as low/medium/high (or with finer scales), producing a heat-map-style picture of risk. It is widely used because it is fast and accessible to non-quantitative audiences, and it works well when data is scarce. With defined criteria for each rating, it can be reasonably consistent, but without rigor it becomes subjective. It complements quantitative risk and is foundational in GRC practice.
Introduced in: GRC Analyst Fundamentals
Examples
- Rating a risk as high impact and medium likelihood on a 5x5 matrix.
- Presenting a heat map of qualitative risks to leadership.
- Defining clear criteria for each rating level for consistency.
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