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Status Open for voting
Categories Risk add-on
Created by Guest
Created on Jul 2, 2021

Risk Module - Additional Scoring Methodology

Current, Risk Score = Likelihood x max{ Severity(1), Severity(2), Severity(3)..}

This understates the risk quantum where multiple domains of severity are hit. Please add additional scoring methodology as follows:

Score = Likelihood x { Severity(1) + Severity(2) +…}
  • Attach files
  • Kerry Hiki
    Sep 7, 2022
    Thanks for your feedback. We don't have this improvement on our roadmap right now, but we'll monitor this idea for interest from other clients.
  • Guest
    Sep 7, 2022
    Alternative option Score = Likelihood x (Max Severity) ^2 [If you like statistics, the variance of the compound Poisson process explains why the square should be used]