A common approach of a qualitative risk analysis is to evaluate the probability of occurrence of a risk as well as its impact relative to comparable risks. The challenge is to select risks with and maintain the same Optimal Cognitive Distance (OCD). It is recommended to phrase a question describing the nature of risks that should be captured and evaluated.

See also: http://en.wikipedia.org/wiki/Risk_analysis

Note: Risks and chances are often perceived as two sides of the same coin. This is why a second template is available for a positive analysis of events. A more elaborate, alternative approach is to develop a risk portfolio, which is also part of the EIDOS Management Toolbox.