Final answer:
The simplest and most used method for risk analysis is probability analysis, which assesses the likelihood and impact of events. It is commonly applied through a Cost Benefit Analysis using a T-shaped chart to compare costs and benefits of decisions.
Step-by-step explanation:
The easiest and most commonly used technique for analyzing risks is A. probability analysis. This approach involves evaluating the likelihood of a particular event occurring and understanding its potential impact on a project or decision. When considering a choice, individuals often use a Cost Benefit Analysis, which is a decision-making process that compares the costs and benefits of an option. A common tool for conducting a Cost Benefit Analysis is a T-shaped chart that lists costs on one side and benefits on the other. In this analysis, costs represent what is given up, such as money and effort, while benefits are the gains from a decision, which could include monetary gains, saved time, experiences, or other improvements.