Initial and Residual risk for incident items

Initial risk and residual risk assessments have been introduced for the Incident Management starter pack. With this feature, investigator users can perform an initial severity rating and assess residual risk after the action plan has been completed.

With these features, users can more easily assess root causes along both a quantitative and qualitative ranking system.

Introduces:

• A new section on the Investigation tab on Incident items.
• New value pickers to determine:
• Severity;
• Probability.
• A risk level outcome field, based on a 5 x 5 matrix:
• Severity value x Probability value = Risk Level (score):
• Negligible severity & Rare probability = value of 1;
• Minor severity & Unlikely probability = value of 2;
• Moderate severity & Possible probability = value of 3;
• Major severity & Likely probability = value of 4;
• Catastrophic severity & Frequent probability = value of 5.
• The resulting score (severity x probability) falls in a range up to 25. The Risk level is determined by the end-result of the calculation:
• Extreme risk level = 16 – 25;
• High risk level = 9 – 15;
• Medium risk level = 5 – 8;
• Low risk level = 1 – 4.
• A residual risk section on the Actions tab on Incident items:
• Fine-Kinney assessment (severity x probability x exposure);
• A “residual risk assessment details” text field.