As a stakeholder, you may evaluate all the controls and responses in place that can minimize the likelihood and impact of a risk to an acceptable level. By considering the above example, the residual risk must be rated based on the risk responses to prevent cabling damages while excavating the site. For example, a wireless infrastructure that resumes data communication over satellite. This measure may not reduce the probability of damage, but they can help businesses to lower the impact in terms of financial and operational loss. Stakeholders use residual risk scores to determine how well the controls are regulated against a risk.
To set the impact and likelihood rating for inherent/residual risk:
- Choose a particular risk and select the type of risk analysis from the actions pull down list. The Inherent or Residual Risk Analysis dialog appears.
- Set different types of impact and likelihood in terms of low, medium, or high values corresponding to each weight.
- Enter appropriate comments and click OK.
To apply impact and likelihood ratings for all the risks identified in a specific program.
