The gross risk models the overall effect of a risk before controls have been taken into consideration. The gross risk is defined according to two values: impact and likelihood.
The impact value represents the potential scope of consequences that can arise should a specific risk occur. The likelihood value represents the probability of a specific risk manifesting negative consequences. These two values determine a gross risk score, calculated through the risk matrix.
To determine the gross risk:
1. In the Advanced Tab, from the drop-downs; select the desired impact and likelihood values.
2. Check the risk back in.
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