Qualitative versus Quantitative Risk - Which is best?

Many organisations believe that qualitative and semi quantitative risk assessments are adequate to determine where their allocated budget should be best spent. Others argue that while such tools may be useful as a filter for actions that must be taken or that are not necessary, only quantitative risk assessment (identification, analysis and evaluation) can determine what tasks and associated budgets are defensible to the organisation's financial approving authority.

What do you think?

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