However, now I would like some criteria for these four levels so everyone in the organization understands what they represent. I have proposed the following:
Blocker - Prevents high priority requirements from being met or any further project development from being made.
High - Severely compromises meeting requirements or results in extended delays in project development.
Medium - Some requirements may not be met or the project may be delayed.
Low - Some requirements may not be fully satisfied or the project may be delayed for a short period of time.
I would really appreciate it if I could get some feedback on this. I have looked everywhere and it seems that nobody has actually given criteria for impact levels in the risk log.