Prioritisation: Risk Impact

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jeremytwist
New Member
New Member
Posts: 1
Joined: Thu 25 Feb 2010 10:30 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
Site Admin
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Posts: 446
Joined: Sat 19 Dec 2009 4:39 pm
Location: London

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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