---
sourceDocument: Australia Strategic Portfolio Management
sourceDocumentLink: https://www.servicenow.com/docs/r/it-business-management

 Release :

    - australia

ft:locale :

    - en-US

ft:publication_title :

    - Australia Strategic Portfolio Management

ft:clusterId :

    - itbm

bundleId :

    - itbm

workflow :

    - Technology


---

# Configure a custom Risk rank and Risk value

# Configure a custom Risk rank and Risk value {#ariaid-title1}

* Release version: Australia
* 
* Updated March 12, 2026
* 
* ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 1 minute to read

Configure custom risk rank and value scores (such as High-Medium, Medium-Low, or
Absolute-Low) to rate the impact and probability factors for a risk.

## Before you begin

Role required: pps_admin

## About this task

Use the Risk Value Lookup module to set up the risk rank and risk value for a
specific combination of risk impact and probability. The system uses these values to
determine the degree of risk (Absolute, High, Medium, Low) based on the impact and
probability factors of a risk.

The value in the Probability field is multiplied by the value
of the Impact field to generate the values for the
Risk rank and corresponding Risk value in the Risk form.

By default, you can use the following impact, value, and probability scores for a
risk to create a risk rank and risk value score:

* Absolute
* Low
* Medium or Moderate
* High

{#risk-value-lookup__ul_ckh_dbm_zjb}  
For example, a risk might have high probability and medium impact but you might want to consider it as an overall low risk for the demand. In that case, you would configure the Risk Value Matcher form with the following values:

* Impact = 2 Medium
* Risk Rank Color = Green
* Probability = High
* Probability Number = 1
* Risk Value = 3 Low
{#risk-value-lookup__ul_odg_w4n_zjb}

The following image illustrates a Risk form.

## Procedure

1. Navigate to AllProject AdministrationSettingsRisk Value Lookup.
2. Select New.
3. On the risk value matcher form, fill in the fields.  
   For a description of the field names, see [Risk value matcher form](https://www.servicenow.com/docs/KrOithY0_NolZpzpwTDyPw "Use the risk value matcher form to rate the impact and probability of a risk.").
4. Select Submit.
{#risk-value-lookup__steps_uqb_jhn_zjb}

*[\>]: and then