Risk Events Scores
We score risk events based on their impact and probability. Here are the defined levels and their score
Impact (d):
- Negative Impact: all negative values
- Very low impact: 0-25d
- Low impact: 25d-50d
- Medium impact: 50d-75d
- High impact: 75d-99d
- Very High impact: 100d and above
Probability (%):
- Very low: 0%-25%
- Low: 25%-50%
- Medium: 50%-75%
- High: 75%-99%
- Very High: 100%
N.B. When evaluating the impact and probability of a risk event, we consider the maximum values. For example, if the maximum probability falls within the Low level (25%-50%), we categorize the risk event as having a low probability. Similarly, if the maximum impact falls within the Medium Impact level (50d-75d), we classify the risk event as having a medium impact.
To assign scores to risk events, we utilise a matrix-based approach. By combining the impact and probability levels, each combination is assigned a specific numerical value. Please refer to the matrix below for the corresponding scores:
| Negative Impact | Very Low Impact | Low Impact | Medium Impact | High Impact | Very High Impact |
Very Low | -1 | 1 | 2 | 3 | 4 | 5 |
Low | -2 | 2 | 4 | 6 | 8 | 10 |
Medium | -3 | 3 | 6 | 9 | 12 | 15 |
High | -4 | 4 | 8 | 12 | 16 | 20 |
Very High | -5 | 5 | 10 | 15 | 20 | 25 |
For example, a risk event with "Very low" impact and "Very low" probability receives a score of 1, while a risk event with "Very low" impact and "Low" probability is assigned a score of 2, and so on.