Hi,
I did some research and in my opinion the best way to address risks is pseudo-quantitative method is probably the risk matrix, which classifies the likelihood of a risk in one category and the consequences in another category. The combination of the likelihood and consequence categories corresponds to a risk level, usually a color such as red, orange, yellow, and green. A risk matrix is sometimes called a pseudo-quantitative method because the categories may be determined from numbers.

Irene Lloyd