Riskiskoori

Riskiskoori is a risk assessment concept used to quantify the severity of risks by combining the probability of an adverse event with its potential impact. It produces a numeric score that can be used to compare, prioritize, and monitor risks across projects or portfolios.

The typical approach relies on a risk scoring matrix with scales for probability and impact, often ranging from 1 to 5 or 1 to 10. Some methods include a third dimension such as detection ability or velocity of onset. Scores are usually normalized to a common scale and may be weighted to reflect organizational priorities or contextual factors.

The process generally starts with risk identification, followed by estimating likelihood and consequence, computing the risk score, and aggregating individual risks into a risk register or dashboard. Scores support decision-making, resource allocation, and the setting of risk tolerance thresholds, enabling ongoing monitoring and adjustment as conditions change.

Applications of riskiskoori span many domains, including information security, construction, finance, healthcare, and supply chain management. It helps communicate risk to stakeholders, supports compliance activities, and enables benchmarking of risk exposure over time.

Limitations of riskiskoori include reliance on subjective judgments, potential bias, and the simplification of complex dynamics into discrete scores. The quality of the approach depends on data quality, the validity of model assumptions, and regular updates to reflect evolving conditions.

See also: risk assessment, risk management, risk matrix, risk scoring model, risk register.