Configure custom risk rank and value scores (such as High-Medium, Medium-Low, or
Absolute-Low) to rate the impact and probability factors for a risk.
Use the Risk Value Lookup module to set up the risk rank and risk value for a
specific combination of risk impact and probability. The system uses these values to
determine the degree of risk (Absolute, High, Medium, Low) based on the impact and
probability factors of a risk.
The value in the Probability field is multiplied by the value
of the Impact field to generate the values for the
Risk rank and corresponding Risk
value in the Risk form.
By default, you can use the following impact, value, and probability scores for a
risk to create a risk rank and risk value score:
- Absolute
- Low
- Medium or Moderate
- High
For example, a risk might have high probability and medium impact but you might want
to consider it as an overall low risk for the demand. In that case, you would
configure the Risk Value Matcher form with the following values:
- Impact = 2 Medium
- Risk Rank Color = Green
- Probability = High
- Probability Number = 1
- Risk Value = 3 Low
The following image illustrates the results of this example on the Risk form.
