Impacts – Probabilities

Module: Project Management → Impacts → Probabilities

Impact Probabilities define how likely an impact or risk is to occur.
These values are essential for building a complete risk assessment model, especially when combined with Impact Levels to form a risk matrix or scoring system.

Each record represents one probability level, usually with a numeric score associated.

Access Path

Control Center → Project Management → Impacts → Probabilities

1. Purpose of Impact Probabilities

Impact Probabilities allow project teams to:

Estimate the likelihood of risks or impacts occurring
Standardize probability scoring across projects
Support automatic or calculated risk scores (e.g., Risk = Impact × Probability)
Improve reporting consistency in dashboards and heatmaps
Enable clearer communication with stakeholders about risk exposure

Well-defined probabilities help reduce subjective risk evaluation.

2. Impact Probabilities List

The list displays all configured probability levels available for use in risk assessments.

Typical columns:

Name – Probability label (e.g., Low, Medium, High)
Description – Clarifying text (optional)
Company – Scope of usage (Tenant-Wide or company-specific)
Score – Numeric probability weight

Available actions:

Add a new probability level
Edit or delete existing records
Sort and filter by name, score, or company
Export for reviews or audits

3. Adding an Impact Probability

Click Add Impact Probability to open the entry form.

3.1 Required Fields

Field	Description
Name	The label representing the probability level.

3.2 Optional Fields

Field	Description
Company	Defines whether the probability is global (Tenant-Wide) or specific to one company.
Description	Additional notes clarifying what the probability level means.
Score	Numeric probability value used in risk scoring. Higher scores mean higher likelihood.

💡Tip:
Scores often follow a scale such as 1 → 2 → 3 → 4 → 5 or similar.

4. Example Impact Probabilities

The records shown are examples but illustrate typical values:

Critical – Almost certain to occur
Score: 10
Description: “Critical”
High – Very likely to occur
Score: 8
Medium – Moderate likelihood
Score: 2
Low – Unlikely but possible
Score: 3 (note: in real configuration this would typically be lower than Medium)
Minor – Very low likelihood
Score: 1
Description: “Very Low”

Note:
The example values are demonstrative; real probability scales should follow a clear logical progression.

5. How Impact Probabilities Affect Project Management

Impact Probabilities directly influence:

Risk scores, especially when combined with impact severity
Heatmap visualization in risk dashboards
Ranking and prioritization of risks
Decision-making for mitigation actions
Portfolio-level risk exposure analysis

They help teams identify high-likelihood risks early and plan accordingly.

6. Recommendations

Use a consistent and logical numeric scale (e.g., 1–5 or 1–10).
Ensure higher probability levels always have higher scores.
Avoid too many probability levels — 3 to 5 is ideal.
Add descriptions when labels may be ambiguous.
Review probabilities periodically to ensure alignment with internal risk frameworks.

7. Summary

Impact Probabilities represent how likely a risk or impact is to occur.
They are essential for:

Structured risk scoring
Building risk matrices
Ensuring consistency in evaluations
Improving decision-making and planning

Clear probability definitions improve the reliability of risk assessments across the organization.

Project Management – Impacts – Categories
Project Management – Impacts – Levels
Project Management – Impacts – Priorities
Project Management – Status – Risks
Project Management – Work Item Types
Project Management – Project Types

Project Management - Impacts - Probabilities