Description
The RISKMATRIX function calculates the risk rating based on the provided impact and likelihood values using a predefined risk matrix.
Usage
Use this function to determine the risk rating by selecting values from the impact and likelihood attributes, which are linked to pre-defined fields.
Formula:RISKMATRIX(#[Impact], #[Likelihood])
Predefined Fields
The system generates two predefined option lists when setting up the risk matrix. These lists automatically update to reflect any changes made in the Risk Matrix Settings:
-
Impact
Options such as Insignificant, Minor, Moderate, Major. -
Likelihood
Options such as Remote, Unlikely, Possible, Likely.
Important: Attributes referenced in the formula must use the same options as these lists for the calculation to work correctly.
Examples
-
RISKMATRIX(#[Inherent Impact], #[Inherent Likelihood])
This calculates the risk rating based on the selected Inherent Impact and Inherent Likelihood values. -
RISKMATRIX(#[Residual Impact], #[Residual Likelihood])
This calculates the risk rating based on the selected Residual Impact and Residual Likelihood values.
Inputs
| Argument | Data Type | Description |
|---|---|---|
| Impact | Text, Calculation | The impact level for which you want to calculate the rating, Options must match the Impact option list |
| Likelihood | Text, Calculation | The likelihood level for which you want to calculate the rating Options must match the Likelihood option list |
Returns
Type: Text
The function returns the corresponding risk rating as defined in the Risk Matrix Settings.