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Calculating Risk Probability and Impacts

Risk probability, impact and scores for all risks associated with a particular project or at the enterprise level are updated each time the risk register is loaded or refreshed:

  • When you click the Refresh button
  • When you close the current project or load a new project
  • When you input a new risk
  • When you switch views to Risk Register, Risk Matrix, Risky Properties, or Risk Details

To update the risk register, Monte Carlo simulations are automatically performed. This is required to statistically calculate the cumulative impact of each risk. Monte Carlo simulations are required because the same risk may be assigned to different projects and within a project’s various tasks and resources.

The probability for each risk is based on the maximum probability of all risk assignments.

See also

Managing Enterprise Risks

Risks in RiskyProject

Risk Register

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