A triangle to plot the risk assessment
To deliver a predictive risk model, risk potentiality combines:
- The quality factor found for the risk identification (how was it identified and correlated?)
- The accuracy of the determination of the occurring conditions necessary for the increase of the threat level (physical, chemical and biological conditions)
- The quality of its calibration (according to the data available for the modeling)
To deliver sound risk scenarios (high, most likely and low) risk severity combines:
- The definition of the remarkable hazards levels (threshold of danger)
- The conditions for it deliverability (the effective transfer capacity for the threat)
- The fragility levels of the system (threshold of fragility)
To deliver guidelines for the residual risk mitigation and favor the business continuity process, risk kinetic combines:
- The estimation of the speed before the risk impact
- The risk duration and/or its frequency
- The possible boomerang effect (It’s the last quality control of the risk assessment: i.e. assessment valid till?)