Calculate Risk Potential for Risk Assessment

Explanation

This activity is used to calculate risk for for a given time, place and circumstances within a particular risk assessment,

Prerequisites

In order to perform this activity:

• Risk Assessment is required to be registered in the system
• Descriptions and values of frequency, severity and probability of risk are required to be already defined in the Risk Potential Basic Data window.

System Effects

There are no system effects.

Window

Risk Assessment

Related Window Descriptions

Risk Assessment

Procedure

1. Open the Risk Assessment window and search or populate to find the relevant risk assessment.
2. Go to the Risk Potential Calculation section.
3. In the Probability field, select the description of the risk likelihood from the list of values. The corresponding probability value shows in the Probability Value field.
4. In the Frequency field, select the option specifying the frequency of risk occurrence from the value list. The corresponding frequency value shows in the Frequency Value field.
5. In the Severity field, select the description for the severity of risk from the list of values. The corresponding severity value shows in the Severity Value field.
6. Save the information. Note that the risk potential is calculated from all values in the risk calculator and shown in the Risk Potential field.