Risk Indices
Scorecard comprises of indices, indicators, and formulas that are used to calculate the index values and further evaluate risk.
Risk indicators are added to scorecards that are used in the formula
to calculate the indexes. The following risk indices are available
for calculating risk:
- Risk Index: The risk index is the overall result of a risk assessment. All indicators and indexes can be used in the calculation for the risk index. It is a composite of the likelihood and impact index.
- Likelihood: The likelihood index shows the probability of a risk event occuring. This is measured in percentage. All indicators of a risk assessment can be used to calculate this index.
- Impact: The impact index shows the impact a risk event has on the company. This is measured by an abstract value range. All indicators of a risk assessment can be used to calculate this index.
Note: Maximum 100 risk indicators can be added per risk model.