Risk Rating (Also known as Risk Prioritization Scoring Method or Risk Ranking)

Risk Rating (Also known as Risk Prioritization Scoring Method or Risk Ranking)

Feb 12, 2019

v. A rank order quantification using a systematic approach that quantifies risk in terms of loss potential, then sequences individual risks to determine the order in which compensating controls should be implemented. When activities are outsourced, this scoring procedure also determines how often and how thoroughly third party controls and related processes (such as disaster recovery testing) are examined and tested.

n. A hierarchical measurement that is obtained through the process of the rank order analysis.

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