Residual risk level calculation
Similar questions: How to determine initial risk level? Where to select residual risk
factors after mitigation measures?
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 residual risk for and click on its ID to open (for example
). From there in the left side menu go to Mitigation – Residual risk level tab
- Select parameters of the risk calculation with consideration of mitigation measures that are or will be put in place. Residual risk level is calculated by the same formula as for Initial Risk that is described in General Settings in the Risk Matrix section.
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 automatically calculate the Residual risk index according to the Risk Matrix and it will appear in the upper left of the screen
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