You are the project manager for your organization. You are working with your project team to complete the qualitative risk analysis process. The first tool and technique you are using requires that yo

The primary tool in qualitative risk analysis is the probability and impact matrix, which rates each risk by assessing both its likelihood of occurrence and its potential effect on project objectives such as scope, schedule, cost, or quality, enabling prioritization of risks for further analysis or response planning.

Identifying a risk owner is an output activity associated with risk response planning, not the initial characteristic assessed alongside probability in the qualitative risk analysis process.

Estimating the cost of risk events is part of quantitative risk analysis and numerical modeling, not the characteristic paired with probability in the qualitative probability-impact assessment.

Risk category is used to group or classify risks in the risk register but is not the characteristic evaluated alongside probability in the probability-impact matrix used in qualitative risk analysis.