Which method assesses risk using numerical values?

Quantitative risk assessment is the method that evaluates risk by using numerical values. This approach involves the application of mathematical and statistical techniques to calculate the probability of adverse events occurring as well as the potential impact of those events in monetary or measurable terms. By assigning numerical values to both the likelihood of risks and their consequences, this method provides a clearer and more objective assessment of risk levels compared to other methods.

In contrast, qualitative risk assessment relies on descriptive categories to identify and assess risks without the use of numerical data. Similarly, descriptive risk assessment focuses on explaining risks in words and may involve subjective judgments rather than quantitative analysis. Comparative risk assessment typically involves comparing risks across different scenarios or projects but does so qualitatively or semi-qualitatively, rather than assigning explicit numerical values. Thus, the use of numerical values in quantitative risk assessment is what distinguishes it as the correct choice in assessing risk more rigorously and systematically.