In a "qualitative" risk register descriptive terms are used: for example a risk might have a "High" impact and a "Medium" probability.
In a "quantitative" risk register the descriptions are enumerated: for example a risk might have a "$1m" impact and a "50%" probability.
Contingent response - the actions to be taken should the risk event actually occur.
Contingency - the budget allocated to the contingent response
Trigger - an event that itself results in the risk event occurring (for example the risk event might be "flooding" and "heavy rainfall" the trigger)
Read more about this topic: Risk Register
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