For a complete list of GOES-R Acronyms & Glossary. . . click here (pdf)
Qualification
See Design Qualification Tests.
Qualitative Risk Analysis
A subjective assessment of risks to determine: which risk events warrant a response; the probability and impact of all risks; the probability of each risk occurring based on past experience; the impact of each risk; which risks to analyze more fully using quantification; and the overall risk ranking for the program.
Quantitative Risk Analysis
A numerical analysis of the probability and consequences (amount at stake or impacts) of the highest risks on the program.
Risk quantification involves the following activities:
Further investigation into the highest risks on the program
Determination of the type of probability distribution that will be used – e.g., triangular, normal, beta, uniform, or log normal distribution.
Interviewing experts (data elicitation)
Sensitivity analysis – determine which risks have the most impact on the program
