Understand original risk, residual risk and Sum
Each risk element has original risk values under Risk analysis and residual risk values under Residual risk. Each set has its own Sum. For one risk element, Sum adds probability × consequence across the analysis matrix’s risk-type tabs. It is a matrix score, not a percentage or a forecast of losses.
Before you start
Section titled “Before you start”- Risk management appears in the left menu only if your company has the module and you have at least the Read right on its row. If you don’t see it, contact your user administrator. See The top bar and the left menu.
- You need the Read right on the Risk management row. Your user administrator grants it; see Give a user access rights.
- Open the analysis you want to read; see Find and read a risk analysis.
- Read that analysis’s matrix details on Information. The company defines the risk types and the descriptions of probability and consequence, so their meaning depends on the assigned matrix.
- On Risk, expand Risk analysis and Residual risk, or use Expand all under Column sections.
- Choose one risk-element row. Read its original values under Risk analysis and its residual values under Residual risk. The lettered columns correspond to the risk types in the assigned matrix.
- Read each risk-type score as probability × consequence for that risk element and that type. Use the matrix’s descriptions to interpret the selected levels.
- Read the Sum in each section separately. The original Sum uses that row’s original values across the matrix tabs; the residual Sum uses that row’s residual values across the same tabs.
- Compare the original and residual values for the same risk element and matrix. Keep Status separate: the risk element’s status follows its linked actions, not its Sum.
A calculation example
Section titled “A calculation example”Suppose a risk element has two risk-type tabs with these original values:
| Risk type | Probability | Consequence | Product |
|---|---|---|---|
| First type | 2 | 3 | 6 |
| Second type | 1 | 4 | 4 |
That risk element’s original Sum is 6 + 4 = 10. It combines the tab products; it is neither the largest product, 6, nor just the product of the tab you are viewing. The residual Sum is calculated the same way using the residual values. These numbers are an example, not a fixed scale for your company’s matrices.
What you should see
Section titled “What you should see”Each row has separate original and residual values and a Sum for each set. Those sums describe the individual risk element across the matrix’s risk types; they are not totals for all rows in the analysis.
Good to know
Section titled “Good to know”- Zero needs context. An original or residual risk cell can show 0 when no consequence has been entered. A zero alone does not establish that the risk assessment was filled in.
- Compare like with like. Check the assigned matrix before comparing scores from different analyses. Different risk types and scales can give the same number different meanings.
- Saving the original risk replaces the residual risk. For a risk element, saving its original risk copies the original values of every risk-type tab into its residual risk and overwrites residual values already set. Set the residual risk after the original risk is saved; see Assess original and residual risk.
- Action status. A risk element starts as Open. A new linked action sets Actions in progress; when all its linked actions are closed, its status becomes Actions completed. Reopening an action returns the element to Actions in progress. These statuses do not replace the original or residual assessment. See Follow up a risk element with actions.