Examining Impact Scales for Projects
An impact scales for projects is a rating system showing the assignment of a value that reflects the magnitude of the impact of a risk event on project objectives.
Impact scales can be ordinal scales(numbers) wing values of very low, low, moderate, high and very high. They can also be ordinal scales using linear or non-linear numeric values. Often impact scales for projects can use both methods.
To improve the integrity and quality of the data and make the processes consistent and repeatable, organisations typically develop definitions for each value to help the risk management team assign each risk’s impact score consistently.
Now the impact scales levels…
#1 VERY LOW (1)
If the risk occurs, the impact on the project’s objectives would be minor and noticeable outside the project.
#2 LOW (2)
When it has an impact scale of low, it means if the risk occurs, the impact on the project ‘s objective would be minor but noticeable to the customer or sponsor.
#3 MODERATE (3)
If the risk occurs, the impact to the project’ s objectives would be significant and would create customers or sponsors dissatisfaction with the project.
#4 HIGH (4)
If the risk occurs, the impact on the project would be significant and would create a major customer or sponsor dissatisfaction. The project would be in jeopardy.
#5 VERY HIGH (5)
If the risk occurs, the impact would be catastrophic. The project would be canceled.
Now your take on this argument.
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