Risk Management > Setup > Risk > Monetary loss

Use this form to define the monetary loss related to the risk. Create and maintain the data to indicate the financial impact that a risk could cause.

Note

Risk impact is an estimate of the severity, or the potential opportunity cost should a risk be realized. Risk impact should be a direct measure of the risk consequence as defined in the risk statement. The use of financial value to quantify the magnitude of loss or opportunity cost has the advantage of being familiar to business sponsors. This particular table will allow the definition of these possible losses.

Tasks that use this form

Create/delete the base risk monetary loss

Navigating the form

To create a new record press CTRL+N or the new button. The following tables provide descriptions for the controls in this form:

Fields

Field name

Field description

Score

This field defines the scoring risk. The score might be 1 based on how high the monetary loss is.

Description

Give a short description of the scoring type.

Record status

Shows the current status of the record. The status can be changed with the record status function.