Residual Risk Scoring

Residual risk scoring is the final frontier in the risk management continuum, encapsulating the enduring uncertainties within a project. Beyond initial evaluations, understanding residual risks empowers project teams to gauge the potential impact that remains even after mitigation efforts. By navigating this critical phase, teams enhance their ability to make informed decisions, allocate resources judiciously, and fortify project resilience.

Residual Risk Scoring Inputs and Risk Levels 

TrustRegister uses an algorithm to analyze multiple data points across your risk surface when calculating a “Residual Risk Rating”. The general breakdown is: 

Residual Risk Rating = Inherent Risk – (Consolidated Treatment Efforts) 

The consolidated treatment effort is dynamically calculated by TrustRegister, although manual overrides are available via the product UI in case a human assisted approach is preferred. 

For a more detailed explanation and visual representation, visiting the TrustRegister documentation directly would be beneficial.

For example, 

If your “Inherent Risk Rating” is 25 points, and you have made 50% progress in completing your treatment plan, your “Residual Risk Rating” will equal 12.5 points. 

Here is a breakdown of the mapping between risk labels (very low – very high) and numerical values (1 – 25).

These numbers are modifiable, and our team can help you set them up as part of onboarding. Contact the support team via “Contact Support” link at the top-right corner of the page to get started or if you have any questions regarding residual risk calculations. 

To learn more about TrustRegister, click here!