Qualitative Risk Assessment is a process used to identify and evaluate potential risks based on subjective judgment rather than numerical data. This method often involves gathering insights from experts and stakeholders to understand the likelihood and impact of various risks. It helps organizations prioritize risks and develop strategies to manage them effectively. In this assessment, risks are typically categorized using descriptive scales, such as low, medium, or high. Tools like risk matrices and brainstorming sessions are commonly employed to facilitate discussions. By focusing on qualitative factors, organizations can gain a clearer understanding of risks that may not be easily quantifiable.