Risk, probability and consequence
How the platform scores risk, and why a defensible method matters more than a clever one.
45 min
The risk score
Where an assessment records it, risk is scored as:
risk = probability of failure × consequence of failure
Both are rated 1 to 5, giving a score from 1 to 25, banded as low, medium, high or critical. The score is derived, not typed, and the product is stored on the asset.
Consequence needs a definition
Consequence is only comparable if the organisation agrees what it means — cost of failure, service interruption, safety, environment or reputation. Write the definition down and apply it consistently; a risk register with an undefined scale is an opinion poll.
Feeding decisions
Risk scores, condition and criticality together drive:
- which assets are inspected more often
- which defects are prioritised
- which renewals enter the capital works programme
The platform records the assessment and the date it was made, so a score can always be traced to the inspection behind it.
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