Hello, everobody, I hope you are doing well. I have a question or better say situation when there is no informaition in "scientific" books about appeared problem. We calculate risks of our projects, for example, one project has 2.5 and another has 3.9, so the more risky is 3.9, but for the company the more risky is 2.5 because it is much more important for the client and for the company. My question is: Are there any proved metrics or formulas that will include project priority in risk calculation????????????
Sorry, but I can't find this information in books. If you know some book or article, please reply :)
Thanks in advance Saving Changes...
I have helped many different companies evaluate their risk exposures. There is no single standard. There are some standards for risk management in specific industries, but none that would cover all projects.
I recommend that each company look at its goals and issues and vulnerabilities, and then come up with its own risk rating system.
While the numbers from this system will not be meaningful to other companies, they will be meaningful to compare the relative risks of projects within the same company.
Usually there is a scorecard or rating scale that each company establishes. If you use that same scorecard consistently, you should be able to get some useful numbers.
Very often these scores involve two numbers: likelihood and impact. Multiplying the likelihood score times the impact score gets you an overall risk assessment. For instance, if likelihood is rated 1 to 5, and impact 1 to 5, then the overall risk score will be 1 to 25.
