Risk Register - Inherent and Residual Risk Score Formula

C1Risk Platform provides automated or manual scoring for risk. You can switch your risk score calculation approach in the risk register record. 

Formula for Risk Scores

Inherent Risk Score 

If Inherent Risk Automation is turned on, then the 

• Inherent Impact is the highest impact score from the related Asset
• Inherent Likelihood is the average control strength value from related internal controls

If automation is turned off, then the value is what the user input. 

Residual Risk Score

This score is automatically calculated. The formula is = (Inherent Risk Score * Probability) / 100

The residual risk score is dynamically changing when the inherent risk or control is changed. Note: Plans to add findings into the residual risk score is coming in 4Q2023. 

Probability

If there are no related internal control to mitigate the risk, the probability is 100. If there are some control, then the probability is 100 - Average Control Strength 

See Also documentation for:

• Asset Risk Score
• Vendor Risk Score
• Assessment Risk Score
• Finding Score