What aspect does qualitative risk assessment primarily rely on?

Qualitative risk assessment primarily relies on expert opinions and judgment as it focuses on gathering insights and perspectives from experienced professionals rather than solely depending on quantitative measures. This approach involves evaluating risks based on subjective criteria, which can include factors such as experience, intuition, and situational understanding.

In qualitative assessments, the emphasis is on understanding the context and potential impacts of risks rather than analyzing numerical data or statistical models. Experts provide their insights based on their knowledge of the industry, organizational practices, and specific circumstances that might not be captured through hard data or historical records. This makes qualitative risk assessments particularly valuable in cases where numerical data may be lacking or where the risks need to be understood in a broader qualitative context.