Calculation of Inherent, Residual Risk and Probability

Modified on Wed, 28 Sep, 2022 at 2:28 AM

Inherent and Residual Risk and Probability are auto-calculated on the 1Risk Platform.

Inherent Risk 

Inherent Risk is calculated by the average impact score from related assets (to the risk)

Residual Risk

Residual Risk is calculated by the Inherent (Risk * Probability)/100

Probability

Probability is defined by the associated internal controls. If the residual risk is 0, then the probability is also o. If the residual risk is greater than 0 then probability is 100 minus the average control strength.


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