Quantitative Assessment: Risk Analysis Process

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Quantitative Assessment:  

A quantitative assessment measures the monetary value of all the elements combined in a risk assessment as well as the assets and threats of a risk analysis. Components of the risk analysis process include: property value; residual damage; rate of occurrence (threats); safeguard effectiveness; safeguard expenses; unknowns and probabilities.  All of these components need to be quantified. When doing this assessment all incurred costs such as loss of hours; repairs; damage and replacement of equipment.

The three steps of quantitative assessment are as follows:

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