Initial risk level calculation
Similar questions: How to determine initial risk level? Where to select risk factors during
risk evaluation?
Risk factors names and description may vary from
one organization to another as well as the formula for initial risk calculation
may be different, depending on company’s policy. These parameters are being set
in General Settings by users with Administrator role.
- Go to
module from the home page or using the metro button
menu. This opens the list of existing risks.
- Select the risk you’re planning to calculate
initial risk for and click on its ID to open (for example
). From there in the left side menu go to Evaluation – Initial risk level tab
- Select parameters of the risk matrix—risk factors. They may be named differently in different tenants, but generally in the industry such notions are used as Damage avoidance, Exposure, Probability and Severity to locate a risk within the Risk Matrix.
- Selecting risk factors is normally a team effort, since it takes judgement of several evaluation team members to choose the correct value in the drop down list (values are explained in the list to help make the correct selection)
- After all Risk factors are entered, a formula will calculate the Initial risk index according to the Risk Matrix and it will appear in the upper left of the screen
For
Initial risk level calculation Risk Factors should be selected without
considering mitigation measures that will be taken as a result of the Risk
Analysis. An initial level of Risk factors is being considered before
additional mitigation measures.
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