In analised the severity of a risk we look at Injury, Programme, Cost,and Likelyhood.
Each is given a 1 to 5 value (1 is very low, 5 is very high).
We add the (Injury + Programme + Cost) and multiply by the Likelyhood to arrive at a Severity figure. The risks are then tabulated to give highest severity first.
This gives equal weight to each of the three values added together which seems illogical to me.
How does anyone else calculate severity?
StephenA
Each is given a 1 to 5 value (1 is very low, 5 is very high).
We add the (Injury + Programme + Cost) and multiply by the Likelyhood to arrive at a Severity figure. The risks are then tabulated to give highest severity first.
This gives equal weight to each of the three values added together which seems illogical to me.
How does anyone else calculate severity?
StephenA