1. What is Risk Score?

The Risk Score is a numerical value calculated by multiplying three factors: Probability, Severity, and Vulnerability. It helps prioritize risks by quantifying their potential impact.

2. How Does the Calculator Work?

The calculator uses the Risk Score formula:

Where:

• \( Probability \) — Likelihood of risk occurring (0-1 scale)
• \( Severity \) — Potential impact of the risk (scale)
• \( Vulnerability \) — System's susceptibility to the risk (scale)

Explanation: The equation provides a quantitative measure of risk by considering all three critical dimensions of risk assessment.

3. Importance of Risk Score Calculation

Details: Risk scoring is crucial for prioritizing mitigation efforts, allocating resources effectively, and making informed decisions about risk management strategies.

4. Using the Calculator

Tips: Enter probability (0-1), severity (any positive number), and vulnerability (any positive number). Higher values indicate greater risk.

5. Frequently Asked Questions (FAQ)

Q1: What scale should I use for Severity and Vulnerability?
A: Common scales are 1-5 or 1-10, but you can use any consistent scale as long as you apply it uniformly across all risks.

Q2: How do I interpret the Risk Score?
A: Higher scores indicate higher priority risks. Establish thresholds for low, medium, and high risk based on your organization's risk appetite.

Q3: What's the difference between Severity and Vulnerability?
A: Severity measures potential impact if the risk occurs, while Vulnerability measures how susceptible the system is to the risk.

Q4: Can Probability be 0 or 1?
A: Yes, 0 means impossible, 1 means certain. However, most risks fall somewhere in between.

Q5: How often should I recalculate Risk Scores?
A: Regular reviews are recommended, especially when conditions change or new information becomes available.