Prioritisation: Risk Impact

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jeremytwist
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Joined: Thu 25 Feb 2010 10:30 am

Prioritisation: Risk Impact

Postby jeremytwist » Thu 25 Feb 2010 10:31 am

I am currently trying to create criteria for the impact levels of various risks found in the risk log. So far I have settled on the following:

  • Blocker
  • High
  • Medium
  • Low

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.

Many Thanks,
Jeremy

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dhaughey
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Re: Prioritisation: Risk Impact

Postby dhaughey » Tue 09 Mar 2010 9:07 pm

Hi Jeremy,

This is good article looking at risk, Ranking Risks: Rare to Certain, Negligible to Catastrophic.

In the article risks are looked at by Consequence Ranking:

    Catastrophic
    Critcal
    Marginal
    Negligible

...and Probability Ranking:

    Certain
    Likely
    Possible
    Unlikely
    Once in 24 years

Duncan

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