Mapping of Quantitative Values to Qualitative Options

Nelson Kho

A question that has been asked by many users:

“When I perform a semi-quantitative risk assessment on my bowtie, how will the system know which likelihood value to pick for the risk rating?”

This question can be explained by the following example:

The system is being configured to have 5 likelihood options with the following values:

Cause Likelihood Settings

Now the important question, if your final calculated frequency at the consequence equals to 0.6, how does RiskView handle the mapping of quantitative values to qualitative options? (i.e. how does RiskView know which likelihood option to choose from?)

Your result may vary depending on the option you have configured:

“floor” Option

The calculated frequency will be rounded down to the next available likelihood option. From the example above, the frequency value of 0.6 will be rounded down to 0.1, and the likelihood option of “Possible” will be used in the risk rating.

“ceiling” Option

The calculated frequency will be rounded up to the next available likelihood option. From the example above, the frequency value of 0.6 will be rounded up to 1, and the likelihood option of “Likely” will be used in the risk rating.

“value” Option

The calculated frequency will be compared to the active likelihood options, and the option that has the minimum difference will be chosen. For example:

mapping of quantitative values to qualitative options

When the computed frequency is 0.6, the minimum difference falls on the likelihood option of “Likely”, and that option will be used in the risk rating.

When the computed frequency is 0.3, as the minimum difference now appears in the likelihood option of “Possible”, that option will be used in the risk rating.

This option gives the flexibility to the users when they are doing their risk analysis, as they are not locked to either being optimistic or pessimistic.

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