Versions Compared

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.

Risk is a possible event that could cause harm or losses, or create obstacles for to achieving your objectives. The risk may also be defined as the uncertainty of an outcome that can be used for to estimate the evaluation of probability of a positive or negative outcome. The risk level related to associated with a change request is evaluated with or other ITSM entity is evaluated using the risk matrix in the ITSM application.

The risk matrix is a qualitative tool for the a qualitative evaluation of the associated risks involved based on such parameters as Impact, Probability and Business criticality. The use of risk matrices allows for more efficient allocating of resources: the higher the risk associated with the change request, the sooner you should start to work on the task and the more resources should be provided to solve the issue.The Business criticality that depends on the following parameters:

  • Impactthe potential effect that the risk may have on the business user, service, or CI. The options are LowMediumHighVery High.
  • Probability the probability of the risk associated with the change taking place. The options are High or Low.
  • Business criticality – the metric specifies how crucial the disruption of this service for the business can be. The options are High or Low.

The use of risk matrix allows you to approach the changes in a more efficient way. Use the following strategies to avoid or modify the risks:

  • Decline the change.
  • Remove the risk source.
  • Change the probability of the negative event.
  • Change the possible consequences.
  • Share the risk with other parties (including contracts and risk financing).
  • Retain the risk by informed decision.

If you intend to proceed with a high-risk change, it is recommended to increase the number of approvals required for the change request or another ITSM entity and create an in-depth plan of the change.

Risk metrics for Business Criticality = Low

Probability / Impact

Low

Medium

High

Very High

Low

Low

Low

Medium

High

High

Medium

Medium

High

High

 
Risk metrics Business Criticality = High

Probability / Impact

Low

Medium

High

Very High

Low

Low

Medium

High

High

High

High

High

High

Very High

Extend the risk matrix

Add new impact, probability, and business criticality options


The "out-of-the-box" solution has a risk matrix with standard settings, but you can customize it based on your business tasks and priorities. Firstly, add more impact, probability and/, or business criticality options.

To add a new impact, probability or business criticality option, perform complete the following steps:

  1. Open the any record of any change request that has an impact, probability or business criticality fieldthe Impact, Probability, and Business cruciality fields.
  2. Right-click the title of the field you need and in the context menu that appeared, select Configure field.
  3. In the Related Lists area, select the Choice tab.
  4. Click New, fill and fill in the fields.
  5. Click Save or Save and exit to apply the changes.

See the Choice Fields article to learn how to create choice options.

Note

The Value field: the value must be relevant to the impact, probability or business criticality.

For example, the High option of Impact has a value of 3. If you add a Very high option for Impact that is higher than High, increase set the value to 4.

And if you add the Medium option for Impact that is lower than High, decrease set the value to 2.

After you have added a choice option for a tablenew impact, probability, or business criticality option, perform the same steps for the the Risk Matrix (itsm_dl_change_risk) table. The action sequence is the same. 

Add new risk combinations


After adding new choice options, extend the risk matrix. To do so, complete the following steps below:

  1. Navigate to Data Matching Definition → Risk Matrix.
  2. Click New and fill in the fields.
  3. Click Save or Save and exit to apply the changes.

Risk Matrix form fields

NoNoNoNoNoNo
FieldMandatoryDescription
Impact
NThe impact value you plan to use in the new risk value.
Risk
NThe risk value that is calculated based on the impact, probability, and business criticality.
Probability
NThe probability value you plan to use in the new risk value.
Business criticality
NThe business criticality value you plan to use in the new risk value.
Order
N
Note

The Order field is temporarily out of service – our team is working on restoring its functionality. We will inform you about the changes in one of our next releases.

Script
N
Note

The Script field is temporarily out of service – our team is working on restoring its functionality. We will inform you about the changes in one of our next releases.

Repeat these steps until your risk matrix covers all the possible combinations of the impact, probability and business criticality.

Table of Contents