what is Qualitative and Quantitative risk

[Nithya Devi]

Can anyone say,what is Qualitive and Quantitive risk in servicenow GRC?

[Community Alums]

Hi @Nithya Devi .

[Manikantahere]

In the quantitative rating Risk roll up happens? I heard in classic risk methodology there is no concept of risk roll up. 

Correct me if i am wrong please.

[Sohail Khilji]

in a easy to understand format :

Lets say your business make a monthly revenue of 10,000$. 

In the upcoming month :

if you make 1000$ loss then its > Low Loss to business

if you make 3000$ loss them its > Medium Loss to business

if you make 8000$ loss them its > High Loss to business

So, if you mesure your risk in $ or numbers its called Quantitative 

and if you measure in low, med, high then its Qualitative