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Risk Ranking

Risk Ranking is a common methodology for making risk based decisions without conducting quantitative risk analysis.

VisiumKMS has a configurable ranking system allowing for decision making, based on your company's defined risk matrix. The basic Risk Matrix has severity and frequency axis. The intersection of severity and frequency provides a measure of risk.

VisiumKMS Risk Ranking includes the severity and frequency in an 'As Is' and 'To Be' tabs. What is the risk currently will be the 'As Is' and what does the process need it 'To Be'.

When setting up the risk matrix for the first time, make sure to follow the instructions in the following order:

  1. Configure Risk Matrix Selection Values found in Administration>Selections>Risk Matrix
  2. Configure the Risk Matrix found in Administration>Risk Ranking

Risk Ranking Prerequisite​

The following sections within the Administration module need to be configured before using Risk Ranking:

AreaSub Area (if applicable)Link to Help Topic
PeopleEdit GroupsAdding Persons
SecurityManage Groups and Roles
LocationFacilityLocations
SelectionsRisk Matrix FrequencyRisk Matrix Frequency
SelectionsRisk Matrix Risk LevelRisk Matrix Risk Level
SelectionsRisk Matrix Risk SeverityRisk Matrix Severity
SelectionsRisk Matrix Risk Severity TypeRisk Matrix Severity Type
SelectionsRisk Matrix Frequency Description

Add Risk Matrix​

Note

To be able to configure the risk matrix you need to have the “Manage-Risk-Matrix” token.

To configure the risk matrix navigate to Administration > Risk Ranking.

Configure the Display Options by:​

  1. X-Axis: This option defines what appears in the X-Axis of the risk matrix.
  2. Highest Severity: This option defines where the highest severity is placed in the matrix.
  3. Highest Frequency: This option defines where the highest frequency is placed in the matrix. Looking at the risk matrix there are numbers displayed on the bottom right of each cell. That number is a guide to assist in determining the risk value and risk level to define. A larger number means that the risk value for that cell will be high.

Configure the Intersect Value by:​

  1. Click on a cell in the risk matrix. The User can select multiple cells.
  • Broken lines will be displayed around the selected cell Underneath the Risk Ranking Matrix in the Intersect Value panel
  1. Enter a intersect value in the “Value” field. The value used can only be 5 characters
  2. Using the drop down select a risk level
  3. Click Update
  4. To clear the selected values click “Cancel”
  5. To deselect the selected cell in the risk matrix click “Deselect All Cells”