Qualitative Methods

The SWOT analysis is an instrument of strategic corporate management with which strengths and weaknesses of the company or its supply chain, as well as the opportunities and threats in the environment, can be uncovered. The resulting findings can be used to identify risks by comparing the requirements of the market with the potential of the company or supply chain. Finally, identified weaknesses are to be regarded as risks, whereby these can be both strategic and operational in nature.

Originally, the scenario technique came from the military field, but today it is also frequently used for economic and social issues. Basically, the scenario technique combines quantitative and qualitative forecasting elements. Thus, no pure linear projection is made on the basis of historical data. The aim of the procedure is to prepare companies for future developments in order to improve their ability to act. The complexity is reduced by the calculation and exclusion of inconsistent future developments. The scenario technique provides consistent future projections based on the information collected during the process.

Brainstorming is probably the best known and most widespread creativity technique, which basically aims to activate thought processes and identify as many ideas or risks as possible by promoting the creative potential of a group or individuals. Brainstorming is used to identify risks in all industries and functional areas due to its methodological simplicity and its versatility.

Event Tree Analysis (ETA) is a method that examines the consequences of a particular event. Starting from an initial event, the tree is divided into two branches, whereby the upper one represents a positive and the lower one a negative development (event trees are usually drawn from left to right). Repeated branching of the tree shows possible effects of an initial event on a system. The aim of ETA is the identification of possible damage events. 

The Bow-Tie method can be considered to be a combination of earlier developed fault tree analysis (FTA) and event tree analysis (ETA) methods. A significant milestone in the history of Bow-Tie was the catastrophic incident on the Piper Alpha platform in 1988, which shook the oil and gas industry. In the early 1990s, the Royal Dutch Shell adopted the BowTie method as part of its methodological toolbox for managing risks. Nowadays, the Bow-Tie method is also used for risk management related to different transport modes such as maritime and aviation.