Activity 3: Qualitative Risk Assessment Refer to the PMBOK Project Risk Management Knowledge area and examine the processes associated with "identify risks" and "perform qualitative risk assessment." Brainstorm within your team to identify risks and use expert judgment to roughly estimate the probability and impact of each risk. Summarize your risks with assigned probability and impact, and plot them using a probability/impact matrix. Submit the ranked risks with a P/I matrix along with a one-paragraph summary of your risks brainstorming experience within a one to two page document for grading