Its only simple if you use probability instead of words, for example in a qualitiative judgement I might say that a mobile phone charger in use sitting underneath a whole insulating heap of paper constitutes a high fire risk, and I might say there is a high probability that it will overheat and I might give a figure- say 75% liklihood of it causing a fire.
But thats the smoke and mirrors bit- the 75% is no better than the words "very likely". It may deceive people in thinking my assessmet is more technical than the gut feeling it really is.
It only becomes a quantitative analysis if I get technical and start calculating heat outputs, the rate of heat growth, insulation factors of paper, ignition temperature of all the constituents, duration unattended, proximity and perhaps add in the average failure rate of these things in ambient conditions.
But even then it falls apart if its got the wrong fuse or someone has done an unauthorised repair. So in my opinion quantitative assessments are ideal for designing new buildings or installations but in the real world of life risk and existing building I will stick with my gut feeling and qualitative judgement.
And after all my gut is more than ample for the purpose.