What type of assessment is performed when there is insufficient data to assist the risk assessment, using estimates to express risk?

Qualitative risk assessments are typically performed when there is insufficient data to conduct a detailed quantitative analysis. In these assessments, estimates and subjective judgments are used to express and evaluate risks. Instead of relying on numerical data, qualitative assessments utilize descriptive categories to gauge the likelihood of risk events and their potential impact.

For example, an organization may categorize risks as high, medium, or low based on the assessment team’s experience and understanding of the environment rather than through statistical data. This method is particularly useful in situations where data may be limited or difficult to quantify, allowing organizations to still identify and prioritize risks based on expert opinion and analysis.

In this case, the choice of qualitative risk assessments is appropriate because it effectively addresses the scenario where data is insufficient, enabling risk management to proceed even in uncertainty. Meanwhile, other assessment types such as security assessments and vulnerability assessments focus on specific security controls or system weaknesses rather than quantifying risk in the absence of sufficient data. Quantitative risk assessments, in contrast, require substantial data to produce numerical estimates of risk, making them unsuitable for situations where data is lacking.