Question

Assess the use of qualitative and quantitative metrics in contingency planning. Analyze the use of the threat assessment model (TAM) in risk assessment activities.

Answer 1

Use of qualitative metrics in contingency planning

The qualitative metrics in contingency planning is used to identify and mark the risks for further analysis.

It does not use any mathematical calculation for analyzing the risk it uses the expert guidance for analyzing the risk so the probability of the risk will get reduced.

It is used to prioritize the risk.

It helps to increase the knowledge about the project.

Use of quantitative metrics in contingency planning

These metrics are used in the project which has risk which can cause a high impact to the project.

It uses mathematical calculation for better probability for predicting the risk of the project.

It is used to estimates the likelihood of meeting targets and finding the risk on the basis of money investments.

Use of the threat assessment model (TAM) in risk assessment activities

It is used to analyze the nature of the threat

It is used to prevent the risk or reverse the effect caused by the risk

Without the use of this model minimizing the threats would be confusing, inefficient and even counter-effective. So when we use this model only we can have a clear view of the threats.

It is used to control the risk in Credit Card and Social Security details