How is qualitative risk analysis characterized?

Qualitative risk analysis is characterized by evaluating risks based on their impact and likelihood rather than quantifying them with numerical values. The correct formulation reflects the process of assessing risk by considering the likelihood of an attack succeeding (Attack Success) alongside the importance of what is being protected (Criticality), then factoring in the effectiveness of any existing protections (Countermeasures).

In option A, the formulation combines Attack Success and Criticality, which helps to determine the importance of the asset in relation to the threat it faces. By subtracting Countermeasures, this approach acknowledges that effective protective measures will reduce the overall risk to the entity. This makes it a holistic view of risk that aligns well with qualitative assessments, focusing on understanding impacts and prioritization rather than simply giving a mathematical value to risk.

The other formulations do not accurately represent how qualitative risk analysis operates. They either misplace the relationship among these variables or suggest an inappropriate method for considering risk assessment, potentially leading to insights that do not fully capture the nuances of qualitative analysis. Therefore, the first option stands out as the most accurate description in this context.