CompTIA Project+ Practice Test

Qualitative risk analysis focuses on assessing risks based on their characteristics, utilizing subjective judgment rather than numerical data. The aforementioned method of employing expert judgment to evaluate the likelihood and impact of risks is a direct application of qualitative analysis. This approach relies on the insights and experiences of experts to qualitatively categorize and prioritize risks based on their potential effects on the project, which allows for a more nuanced understanding of risks that may not be quantifiable.

In contrast, the other options lean towards quantitative analysis or alternative methods of risk assessment. Mathematical modeling involves using statistical and numerical methods to predict outcomes based on risk metrics, which is inherently quantitative. Conducting surveys may gather data that can aid in risk assessment but does not directly equate to a qualitative assessment unless those responses are analyzed qualitatively. Similarly, calculating the cost-benefit ratio involves quantifying potential gains against risks, which is part of a quantitative risk analysis approach. Thus, the focus on expert judgment in assessing risks' impact and likelihood exemplifies the essence of qualitative risk analysis.