What is the process used to evaluate risks in an IT project?

The process of risk evaluation in an IT project involves identifying and assessing risks to determine their potential impact on the project's success. Qualitative risk analysis is specifically designed to assess risks based on non-numeric factors, allowing project teams to categorize risks by their severity and likelihood. This approach helps prioritize which risks require further attention or action.

In qualitative risk analysis, risks are often categorized as high, medium, or low based on their potential impact on project objectives, such as cost, time, and quality. This prioritization helps teams focus their resources on the most critical risks that could affect the project's success. By understanding the qualitative aspects of risks, project managers can make informed decisions about which risks need mitigation strategies and how to allocate resources effectively.

The other options represent important components of risk management, but they serve different purposes. Quantitative risk assessment focuses on estimating the probability and impact of risks using numerical methods, while risk mitigation strategies involve the actions taken to reduce identified risks. Impact assessment evaluates the consequences of risks but does not encompass the full process of analyzing and prioritizing risks based on qualitative measures. Therefore, the choice of qualitative risk analysis accurately reflects the process of evaluating risks in the context of IT projects.