Maximise Gain Minimise Loss Increase Value Promote Efficiency Identify Weaknesses Improve Processes Strengthen your Business

Calculating enterprise risk in multidomain organisations

Calculating or quantifying risk, as opposed to qualifying risk, is essential if you want to accurately prioritise the risks your organisation faces, and ultimately control them down to acceptable or tolerable levels.

Calculating risk values or risk scores gives you an actual measure of risk instead of simply recognising a risk is present.

With two key numerical pieces of information; probability and impact, you can quantify any risk event (sometimes called top event).

This is fine if for example your company consists of a single or couple of departments, but what if, like many organisations, you have complex command structures, multiple departments, numerous domains and various locations? How do risks in one downstream department manifest in upstream departments?

This article attempts to show you how you can calculate risk in multi domain organisations which in turn will help you foster an all round more efficient enterprise risk management system.

Read More

    Share Risksoft

    Blog Category


    We create interactive multi-platform browser based enterprise class risk management, safety management and process management software.

    With expertise in risk management and software development, we work closely with our clients in numerous industries to provide off-the-shelf and bespoke risk management solutions using the latest PHP5 and HTML5 Canvas technology to international standards.

    Photo Stream

    BowTie Risk Management Methodology
    When is it time to start thinking how the EU Referendum could affect your business?
    Could a focus on reputation risk promote all-round more effective enterprise risk management?
    Human factors risk in software and web application development
    Why is the multibillion dollar SaaS software market suddenly booming?
    What exactly is Risk Management?

    Blog Tags

    All Aviation BowTie Brexit Budget 2015 Business Risk Clinical Research Compliance Risk Cyber Security Defence Enterprise Risk Management EU Referendum Financial Risk Fire Risk Fracking Health and Medicine HSE Bulletins Human Factors Miscellaneous Oil and Gas Opportunity Risk Process Management Reputation Risk Risk Assessment Law Risk Management Risk Management Software Risksoft News SaaS Safety Management Science Security Social Media Software Development Strategic Risk What Could Possibly Go Wrong?

    Maximise Gain Minimise Loss Increase Value Promote Efficiency Identify Weaknesses Improve Processes Strengthen your Business