Probability and impact

Every assessment combines a probability score with one or more impact perspectives. Together they determine your risk exposure and feed into EMV and ETV calculations.

Assessment perspectives

Probability is always required. You then add whichever impact perspectives your organisation needs. Your framework administrator configures which perspectives are available.

Perspective	What it measures	Example	Required
Probability	Likelihood the risk event occurs	75% chance of occurrence	Yes
Financial	Direct monetary impact on budget or revenue	$250,000 cost overrun	Optional
Schedule	Impact on project timeline in days or weeks	6-week delay to milestone	Optional
Schedule Financial	Monetary cost of schedule delays	$50,000/week delay cost	Optional
Quality	Impact on deliverable quality or specifications	10% reduction in performance specs	Optional
HSE	Health, Safety, and Environmental impacts	Potential for recordable incident	Optional
Reputational	Impact on brand, stakeholder trust, or public perception	Regional media coverage	Optional

Probability ranges

Probability is expressed as a percentage from 0 to 100. Risk Companion maps your value to a qualitative band so you can communicate likelihood consistently across the team.

Rare1 to 10%

Unlikely11 to 30%

Possible31 to 50%

Likely51 to 75%

Almost Certain76 to 100%

Impact scoring

You enter impact values in the native units of each perspective (dollars, days, percentages). Your framework maps those values to severity categories with colour-coded indicators.

Example financial thresholds

Minor< $10K

Moderate$10K to $100K

Major$100K to $500K

Severe$500K to $1M

Extreme> $1M

Framework thresholds are configured by your organisation administrator. The same numeric value may map to different categories depending on your risk tolerance and scale.

Framework severity categories

After you enter probability and impact values, Risk Companion maps the combined score to a framework severity. These colour-coded labels appear throughout the app so you can spot high-priority risks at a glance.

MinorSmallModerateConsiderableSeriousExtreme

Example: A supply chain disruption with 60% probability (Likely) and $350,000 financial impact (Major) lands in a high-priority zone on your risk matrix.