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About Risk Outcomes

Risk Outcomes indicate the severity of a risk event for the specific risk category. You need to enter risk outcomes when you define risk chance and outcome type. For example, here are the default risk outcomes for the risk category Schedule:

Outcome types can be a label (e.g. Critical > 1 year delay) or a percentage (e.g. 5%), or a combination of both. You may set how you want to enter and view risk outcomes in the Format Risk Matrix dialog box. Each label is associated with percentage, which is the midpoint of the interval for each label:




Negligible: < 1 month delay From 0% to 20% 10%
Minor: 1-3 month delay From 20% to 40% 30%
Moderate: 3-6 months delay From 40% to 60% 50%
Serious: 6-12 months delay From 60% to 80% 70%
Critical: > 1 year delay From 80% to 100% 90%

When you define outcome types as a percentage, you can enter it as any number from 0% to 100%. In this scenario, it will be associated with a label based on the interval to which this percentage belongs. For example 76%, corresponds with the "Serious: 6-12 months delay" outcome type.

In RiskyProject, risk outcome types can be probabilistic. You can define a statistical distribution for outcome types and perform Monte Carlo simulation even it is part of qualitative risk analysis. For more information about probabilistic risk outcome types please read Uncertainties in Risk Outcomes.

See also

Risk Outcome Types

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