Risk Priority Number (RPN) rankings are lists or rankings created based on the Risk Priority Number. The Risk Priority Number (RPN) is a metric used to assess and prioritize risks, typically calculated by multiplying the probability of a risk by its potential impact. A higher RPN indicates higher risk, and vice versa.
Typical software functions in the area of Risk Priority Number (RPN) rankings:
Risk Assessment: Automated calculation of Risk Priority Numbers based on defined criteria such as probability and severity.
Risk Ranking: Creation of lists or hierarchies based on calculated RPN values to prioritize risks.
Filtering and Sorting: Ability to filter and sort risks based on various criteria to focus on critical or urgent risks.
Visual Representation: Graphical representation of RPN rankings for easy analysis and communication of risk priorities.
Notifications and Alerts: Automated notifications of changes in RPN rankings or newly identified high-priority risks.
Integration with Action Management: Integration with action management tools to track and monitor risk mitigation actions.