Perform Qualitative Risk Analysis assesses the priority of identified individual project risks using their probability of occurrence,

the corresponding impact on project objectives if the risks occur, and other factors.

Such assessments are subjective as they are based on perceptions of risk by the project team and other stakeholders.

Effective assessment therefore requires explicit identification and management of the risk attitudes of key

participants in the Perform Qualitative Risk Analysis process.

Risk perception introduces bias into the assessment of identified risks, so attention should be paid to identifying bias and correcting for it.

Where a facilitator is used to support the Perform Qualitative Risk Analysis process, addressing bias is a key part of the facilitator's role.

An evaluation of the quality of the available information on individual project risks also

helps to clarify the assessment of each risk's importance to the project.

Perform Qualitative Risk Analysis establishes the relative priorities of individual project risks for Plan Risk Responses.

It identifies a risk owner for each risk who will take responsibility for planning an appropriate risk

response and ensuring that it is implemented. Perform Qualitative Risk Analysis also lays

the foundation for Perform Quantitative Risk Analysis if this process is required.

The Perform Qualitative Risk Analysis process is performed regularly throughout the project life cycle,

as defined in the risk management plan. Often, in an agile development environment,

the Perform Qualitative Risk Analysis process is conducted before the start of each iteration.