Which analysis focuses on estimating the likelihood and outcomes of future risks?

The correct choice for estimating the likelihood and outcomes of future risks is scenario planning. This method involves identifying and analyzing various potential future scenarios that could impact an organization. By contemplating different scenarios, organizations can better understand potential risks, their impacts, and prepare strategies to mitigate them.

Scenario planning encourages organizations to explore a range of possibilities rather than relying on a single forecast, which may not capture the complexities and uncertainties of future events. It serves as a proactive approach, helping decision-makers visualize different paths and their outcomes, thus informing risk management strategies.

In contrast, qualitative and quantitative risk assessments have distinct focuses; qualitative assessments prioritize descriptive analysis based on subjective judgment, while quantitative assessments involve numerical evaluation of risk in terms of probabilities and financial impact but do not inherently emphasize scenario exploration. The Delphi technique, on the other hand, gathers insights from experts through rounds of anonymous surveys but is not primarily geared towards future scenario analysis as scenario planning is.