Risk Easy Four Stage Quantification
Quantification of Risk
What is the $Money$
Impact of Risk Areas?
Quantitative Risk Analysis is the process of numerically analyzing the effect of risk by examining and quantifying various elements of the identified risk.
Quantification of Risk Areas should be given Priority as follows:
First Priority - Risk Areas with a score as Extreme
Second Priority - Risk Areas with a score as High
Third Priority - Risk Areas with a score as Medium
Fourth Priority - Risk Areas with a score as Low
Risk Quantification - Money$ Impact
Risk Easy Four Stage
Quantification Process
01
Stage 1
Qualitative Analysis of Risk Areas into Possible Outcomes
02
State 2
Risk Likelihood Levels
Risk Easy uses a three Level Likelihood scale
Very Likely | Likely | Unlikely
Risk Easy uses a three Level Likelihood scale
Very Likely | Likely | Unlikely
03
Stage 3
Risk Impact - Risk Easy uses a three level Impact Money scale
Major |
Moderate |
Minor
Risk Impact assessment examines the potential effect (normally a cost factor) on the organisation should the risk occur.
Risk Impact assessment examines the potential effect (normally a cost factor) on the organisation should the risk occur.
04
Stage 4
Correlation Between Likelihood and Impact
For each risk area, Risk Easy correlate Likelihood Level (variable) with Impact Level (Variable) to ascertain Impact Cost
Assessing The
Risk Area Matrix
Risk Area
Quantification Application Portals
About Software
Risk Quantification Reports
Risk Easy Software Application will generate different types of Reports
Report 1 – Quantification Report by Risk Area Analysis (Irrespective of Risk Category)
Report 2 – Quantification Report by Risk Category (Irrespective of Risk Area Outcome)
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