Overview
Risk Manager uses a likelihood × impact scoring model to calculate risk ratings. You can configure the likelihood levels, impact levels, and treatment strategies used across your company's risk register.
How Risk Scoring Works
Each risk is rated on two dimensions:
Likelihood — how likely the risk is to occur (e.g. Rare, Possible, Likely, Almost Certain)
Impact — how severe the consequences would be (e.g. Insignificant, Minor, Moderate, Major, Catastrophic)
The risk score is calculated as Likelihood × Impact. Higher scores indicate greater risk.
Risks have two ratings:
Inherent risk — the rating before any controls or treatments are applied
Residual risk — the rating after treatment is applied
Configuring Likelihood Levels
Quick Steps
Navigate to Settings > Risk Rating Likelihood
The likelihood settings page loads with a data table
Default levels are seeded per company:
Rare (1)
Unlikely (2)
Possible (3)
Likely (4)
Almost Certain (5)
You can:
Add — create a new level with title, description, and score value
Edit — change the title, description, or score of an existing level
Delete — soft-delete a level (removed from active list, record stays in database as Inactive)
Configuring Impact Levels
Navigate to Settings > Risk Rating Impact
Default levels:
Insignificant (1)
Minor (2)
Moderate (3)
Major (4)
Catastrophic (5)
Same CRUD operations as likelihood levels — add, edit, soft-delete.
Configuring Treatment Strategies
Navigate to Settings > Risk Rating Treatment
Default strategies:
Avoid
Reduce
Transfer
Accept
You can add custom strategies (e.g. "Mitigate"), edit existing ones, or soft-delete them.
Active vs Inactive Levels
Only active levels appear in the rating modals when assessing a risk. Deactivated levels are hidden from selection but remain visible on risks that already have them assigned.
Important: Changes to rating scales affect all risks in your company. Deactivating a level does not change existing risk ratings — it only prevents new selections at that level.
Using Rating Scales on Risks
When you open a risk's rating modal:
The inherent rating modal shows likelihood and impact selectors
The residual rating modal shows likelihood, impact, and treatment strategy selectors
The score preview updates in real time as you change selections
Only active levels are displayed
Further Information
For applying ratings to individual risks, see Risk Details. For the heat map visualisation, see Risk Overview & Heat Maps.