Risk scores as powers

This forum includes discussion about project risk analysis and risk management theory: Monte Carlo simulations, Event Chain Methodology, schedule and cost risk analysis. Please submit questions and case studies.

Moderator: Intaver Support

Bergman
Posts: 11
Joined: Sat Nov 26, 2005 12:00 pm
Location: New York

Risk scores as powers

Postby Bergman » Fri Oct 13, 2017 2:40 pm

Is it possible to have a scoring method based upon logarithmic scoring (1,2, 4,8,16..)?

Intaver Support
Posts: 719
Joined: Wed Nov 09, 2005 9:55 am

Re: Risk scores as powers

Postby Intaver Support » Fri Oct 13, 2017 2:45 pm

When configuring the risk register, this is referred to as the “Index of the label”. Index can be numbers or letters , but they can only advance numerically and cannot be expressed as powers or exponential etc.
The numbers for scoring are assigned to the number or rows (probability) or columns (impact) in the Risk Matrix. In our default settings, the Matrix is a 5x5 and the indexes for probability and impact are 1-5. If you are using the scoring method of Probability x Impact, the highest score you would be able to achieve is 25. While scores can be expressed differently (%, label, combinations) it is constrained in that the basic values can only increment up by 1.
Image
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject
www.intaver.com


Return to “Project Risk Analysis and Project Risk Management Theory”

Who is online

Users browsing this forum: No registered users and 1 guest