1. What is Severity Calculation?

Severity is a measure of the potential consequences of a risk or event, calculated by multiplying its impact by its likelihood of occurrence. It helps prioritize risks and determine appropriate mitigation strategies.

2. How Does the Calculator Work?

The calculator uses the severity equation:

Where:

• \( Impact \) — The potential consequences of the event (typically scaled 0-10)
• \( Likelihood \) — The probability of the event occurring (typically scaled 0-1)

Explanation: The equation provides a quantitative measure of risk severity by combining both the potential impact and probability of occurrence.

3. Importance of Severity Calculation

Details: Calculating severity is crucial for risk management, helping organizations prioritize which risks require immediate attention and resources for mitigation.

4. Using the Calculator

Tips: Enter impact as a positive number (typically 0-10 scale) and likelihood as a decimal between 0 (never occurs) and 1 (certain to occur).

5. Frequently Asked Questions (FAQ)

Q1: What scales should I use for impact and likelihood?
A: Impact is often scaled 0-10 (0=no impact, 10=catastrophic). Likelihood should be between 0-1 (0%=0, 100%=1).

Q2: How should I interpret the severity score?
A: Higher scores indicate greater risk. Typically: 0-2=low, 3-5=moderate, 6-8=high, 9-10=extreme.

Q3: Can I use different scales?
A: Yes, but ensure consistency across all your risk assessments. The calculator works with any positive numbers.

Q4: What are common applications of severity calculation?
A: Risk management, project planning, safety assessments, cybersecurity, and business continuity planning.

Q5: Should I consider other factors beyond severity?
A: Yes, severity is just one aspect. Also consider risk velocity, detectability, and your organization's risk appetite.