ISO 31000 based risk analysis is

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Question restatement: ISO 31000 based risk analysis is

Options:
- a quantitative risk analysis technique
- a qualitative risk analysis technique
- a semi-quantitative risk analysis technique
- none of the above

Option 1: a quantitative risk analysis technique
This claim frames ISO 31000 as prescribing only numerical, numeric-driven methods. In reality, ISO 31000 supports a spectrum of approaches to risk analysis, and while quantitative techniques exist, the standard emphasizes that risk assessment can be qualitative, quantitative, or semi-quantitative depending on context, data availability, and stakeholder needs. Therefore, labeling ISO 31000-based risk analysis exclusively as quantitative is not accurate and too narrow.

Option 2: a qualitative risk analysis technique
This choice aligns with the typical understanding of ISO 31000 in practice, which often relies on qualitative assessments—descriptions of likelihood and impact using descriptive scales, expert judgment, and structured risk matrices—especially in early or high-level risk screening where precise data may be lacking. It captures a common, widely applicable modality within ISO 31000 frameworks. However, the standard itself is flexible and does not mandate only qualitative methods.

Option 3: a semi-quantitative risk analysis technique
This option recognizes that semi-quantitative approaches (e.g., using scoring systems that blend qualitative descriptors with some numerical scales) are also commonly used within ISO 31000 implementations. While valid in some contexts, describing ISO 31000-based risk analysis as semi-quantitative alone may be overly specific, since the standard supports multiple modalities rather than prescribing a single middle ground.

Option 4: none of the above
If one adheres to a narrow reading that ISO 31000 defines a single method, this option could seem tempting. However, given the diversity of acceptable risk analysis approaches under ISO 31000, the statement that all ISO 31000-based risk analyses are restricted to a single type (or that none of the described types apply) is inaccurate.

Summary of reasoning across options: The statement that best captures the typical, widely applicable approach under ISO 31000 is that risk analysis can be qualitative in nature, often using descriptive scales and matrices. Yet, ISO 31000’s framework is deliberately flexible and compatible with quantitative or semi-quantitative methods when appropriate, so none of the options perfectly encapsulates all possible implementations on its own. As a result, the second option reflects the common qualitative emphasis without excluding other valid methods, while the other options either mischaracterize the standard as exclusively quantitative, inappropriately narrow to semi-quantitative, or claim none of the above.

CVEN30008_2025_SM1 Module 4.3 Quiz

ISO 31000 based risk analysis is

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