Read more about Risks on Solverboard
Setting risk calculations are best done at the initial setup of your Solverboard, as existing risks won't be retroactively updated.
In many fields, especially the Innovation sector, there's inherent risk involved with launching a project or initiative. The risk calculation setting allows you to set the variables that affect your project and its financial projections.
Each variable can be overridden on a risk by risk basis within your Solverboard, so this function just allows you to set "typical" values.
For example, a Low risk might be something that has a probability of <15% for your organisation and is typically something that could set a project back 2 weeks and cost £1,000 on average.
A High risk might carry a probability of >80%, disrupt your project by 6 months and impact your project's cost by £100,000.
The Medium risk setting is calculated for you based on your Low and High scoring, in order to catch everything in between.
To set your Low and High probability, time and cost factors, simply head to Settings > Risk calculation and click each button and add your base numbers.
Remember each of these can be overridden on a risk by risk basis, as undoubtedly not every risk will be the same.
At Solverboard, we've set our risk calculations like this: Indicative only