Define Probabilities
Explanation
This activity is used to establish probability levels and associated values
to evaluate Risk Analysis.
Probabilities encompass a Probability Level ID, a probability
level which describes what level is represented by the ID (e.g. Very Low, Low,
Moderate, High, Very High), Probability Min and Probability
Max which are the starting percentages and ending percentages respectively,
assigned to each probability level and the Probability Weighting
which is a numerical value between the Probability Min and Probability Max.
Prerequisites
None
System Effects
- When adding a new record the Probability Min of the
second record will by default appear as the highest value of Probability
Max +1.
- When adding a new record, if the Probability Weighting
flied is left blank, on saving this field inherits a value that is the closest
integer to the average of the Probability Max and Probability Min in that
record.
- The probabilities are based on percentages and are measured as integers.
It will not be possible to enter probabilities with decimal places.
- Defined probability levels are available in the Lists of Values
where probabilities are applicable.