riskitaseme

Riskitaseme is a term used in risk management to denote the overall level of risk associated with a hazard, decision, or system. It reflects both the likelihood that an adverse event will occur and the severity of its consequences. In practice, riskitaseme can be expressed qualitatively (for example, low, medium, high) or quantitatively on a numerical scale (such as 1 to 5 or 1 to 10). The choice of scale depends on the domain, data availability, and the needs of stakeholders.

Common methods to determine riskitaseme include risk matrices, where probability is plotted against impact, and scoring rules that assign numerical values to different factors. In more advanced analyses, probability distributions, Monte Carlo simulations, or Bayesian updating are used to estimate uncertainty around the risk and to prioritize mitigation actions.

Applications span many sectors, including safety engineering, project management, finance, information security, and public health. In each case, riskitaseme informs decision making, such as where to allocate resources, what controls to implement, and how to monitor residual risk over time.

Limitations include subjectivity in assigning probability and impact, inconsistent scales, and data gaps. Transparent definitions, stakeholder involvement, and periodic review help maintain comparability and usefulness.

See also: risk assessment, risk management, risk matrix, hazard analysis, residual risk.