Context Before Scoring
Define assessment context before assigning likelihood and impact.
Why this matters A risk score is never context-free. ISO 31000 places context-setting before risk identification, analysis, and evaluation because criteria shape every later judgment. If the context is an enterprise client renewal, a two-hour billing outage near invoice close can be severe. If the context is an internal prototype, the same event may be tolerable. Context includes scope, objectives, stakeholders, assumptions, time horizon, evaluation criteria, and constraints. It also includes what the team will not assess. This prevents a common failure: dragging strategic, operational, compliance, and reputational concerns into one undifferentiated score. The mechanism is calibration. When the group…
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