What is the difference between qualitative risk analysis and quantitative risk analysis?  

What is the difference between qualitative risk analysis and quantitative risk analysis?

Describe what is meant by the cost of quality of a project.

Review the assigned readings for the week and provide a graduate-level response to each of the following questions:

  1. During risk analysis, it is required to distinguish between “known unknowns” versus “unknown unknown”. What does this statement mean?
  2. What is the difference between qualitative risk analysis and quantitative risk analysis?
  3. Describe what is meant by the cost of quality of a project.

Respond to the post of at least two peers, using 100 words minimum each.

[Your post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion].

 [Your post should be at least 500+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review]

[Your posting should be completed by Thursday at 11:59 p.m. EST.]

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    Chapter8.ManagementofProductProcessandSupportDesign2.ppt
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    Chapter8.ManagementofProductProcessandSupportDesign1.pptx
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    Book-ProjectManagementProcessesMethodologiesandEconomics3rdEdition.pdf

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