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Glossary of terms used on this site


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UPDATED: September 2019
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Glossaries

TermDefinition
Qualitative Assessment
The process for evaluating a business function based on observations and does not involve measures or numbers. Instead, it uses descriptive categories (e.g., customer service, regulatory requirements) to allow for refinement of the quantitative assessment.
Quantitative Assessment
The process for placing value on a business function for risk purposes. It is a systematic method that evaluates possible financial impact for losing the ability to perform a business function. It uses numeric values to allow for prioritizations.