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 about your experience with our project risk analysis software.
Moderator: Intaver Support
- Posts: 12
- Joined: Sat Nov 26, 2005 12:00 pm
- Location: New York
Is it possible to have a scoring method based upon logarithmic scoring (1,2, 4,8,16..)?
- Posts: 876
- Joined: Wed Nov 09, 2005 9:55 am
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.
Intaver Support Team
Intaver Institute Inc.
Home of Project Risk Management and Project Risk Analysis software RiskyProject