Hong’s company conducts regular risk assessments. As part of their assessment process, they gather a team of experts who assess risks on a scale from low to high based on their knowledge and experience. What type of risk assessment is Hong’s company conducting?

Qualitative risk assessment uses knowledge and expertise to assess risk rather than assign- ing numeric values and calculations like a quantitative assessment process would. Ad hoc risk assessment is done when risks need to be assessed for a specific, immediate need unlike the planned, regular risk assessments described. Continuous risk assessment is ongoing, whereas this is conducted regularly.