How to adjust Risk Criteria

[sowmyabommera]

Hi All,

We are in the process of implementing Risk Management and have a custom rating matrix as shown below. Depending on the Likelihood and Impact the score should be A, B, C or D. Can someone please suggest how to adjust these values in the Risk Criteria table to achieve a proper score for each selection. We are using qualitative approach and do not have any currency values.

Thankyou

[Jan Spurlin]

This answer seems too simple, so I may not be answering your question.

There is a module called Risk Criteria in the Admin section of the Risk App.  That is where the records that drive the risk criteria matrix are stored.  The baseline comes with a 5x5 matrix.  You have a set of records for Impact, a set for Likelihood and then a set for score.  You enter both the qualitative and quantitative values in the matrix.  The quantitative values are needed to drive the ALE calculations.  Even if you don't have good detailed quantitative info, hopefully you can enter values at more general level.

ServiceNow intends for customers to update the records in this table.  You can add records if you want more levels or just change the values.  Just keep the Impact $$ in line with the $$ values in the score records.

You can always come back and change these values - so you may want to play around with it.

If your question is something different than this, please let me know and I'll see what I can do.

Jan

[Eric Le Martre4]

To complete the correct answer from Jan - as usual 🙂 - I would say that if you do not use quantitative impact, then you can use those currency values just to set the value range within which impact x likelihood should result into the expected Score and hit the correct cell in your heatmap.

Then you can use the "Heatmap Color setting" menu in Risk/Administration to define what color to assign to each cell in your heatmap.

Best REgards

ERic

[sowmyabommera]

Hi Jan/Eric,

Thanks for your reply. Actually, I'm unable to arrive at possible values to fulfill the matrix I have shown. So I'm just wondering if there are any other ways for this.

[Philip Green · Accepted solution]

As it's really just the scoring colour you want to get right, this might work, I expect there are others!  😉