The Risk tab shows the Asset Risk Summary for an Asset as well as its Risk Event.
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Name |
Description |
|
Risk Criticality |
The highest Risk Criticality of all the Risk Events belonging to an Asset |
|
Risk Summary |
The highest Risk Summary of all the Risk Events belonging to an Asset |
|
Risk Cost |
The highest Risk Cost of all the Risk Events belonging to an Asset |
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For definitions see Risk Definitions.
Risk Events are a component of the Conquest Risk Module. Provided that a current Risk licence is installed, Risk Events are available in the Asset Form, Risk Tab.
A Risk Event represents something that usually will impact on an Asset’s performance, and consists of:
•A score for each of the Consequences of Failure
•A Probability of Failure (PoF), which can be:
•Automatically calculated based on information from the Asset
•From the Default PoF on a Standard Risk Event
•Manually entered by a User to overwrite the default or calculated value
•A local Risk Factor
A Risk Event has the following calculated values:
|
Name |
Value |
|
Risk Consequence |
The weighted average of the Consequences of Failure. |
|
Consequence Cost |
The product of the Risk Consequence and cost multiplier |
|
Risk |
The product of the: •Criticality Score •Probability of Failure •Risk Factor |
|
Risk Cost |
The product of the Risk and the cost multiplier |
|
Risk Criticality |
In the Risk Criticality code set, the code with a point score closest to the Risk Consequence |
|
Risk Summary |
In the Risk Summary code set, the code with a point score closest to the Risk |