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ITIL :: View topic - How would you calculate risk?
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How would you calculate risk?

 
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Alchemist
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Joined: Jul 19, 2011
Posts: 1

PostPosted: Wed Jul 20, 2011 9:02 pm    Post subject: How would you calculate risk? Reply with quote

I am creating a Change Control application, which would require calculating risk, e.g Emergency, low priority etc.

I need to create some form of calculation which would automatically give me the amount of risk involved with that particular change.

Any ideas?

Thanks.
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Diarmid
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Joined: Mar 04, 2008
Posts: 1884
Location: Newcastle-under-Lyme

PostPosted: Thu Jul 21, 2011 7:18 pm    Post subject: Reply with quote

Try alchemy.

Urgency ("Emergency") and priority ("low priority") are not major contributors to the calculation of risk although they may influence how much risk you will tolerate in a particular case.

I do not see how to automate risk calculation. for example what is the additional risk of something going wrong if you ask an unsupervised trainee to perform an action as compared with a highly skilled specialist who has done the same thing many times; what is the risk of losing sales if you do something when transactions are arriving at the rate of one every day compared with the rate of one every minute.

Or am I misunderstanding your question?
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"Method goes far to prevent trouble in business: for it makes the task easy, hinders confusion, saves abundance of time, and instructs those that have business depending, both what to do and what to hope."
William Penn 1644-1718
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