Hello,
In the “Eramba Multiply” risk calculation, I can only select two risk classes to multiply. In the company we use an additional - third - and we need to add it to the formula.
How can we do it?
I put a question into support about this a few weeks back - apparently the intended design is to only allow two items for the calculation in multiply.
What you may want to consider is making a custom tab/fields to help with the calculation - basically step one in the custom tab is to document the first two items, then use that result plus the third variable in the actual calculation. Not the most elegant, but it should work…
how would this fit into a two dimension matrix chart?
It is based on the multiply results - 1-20 = light green/very low/negligible, 20-40 = green/low/small, etc…
I see that matrix used for two dimensions, but formula results is also good option…
This would require a new type of matrix, one that is not based on coordinates (vertical vs horizontal) but one based on absolute values
Yes, right.
If you can implement this - it will be a bit step for Eramba and other user (already asked)!
I’ve been re-writing this reply a few times to make sure my thoughts are captured - of course, the alternative is to adjust how we do risk scoring to fit within the current eramba multiply paradigm, which would not be the end of the world for us.
The charts would still be two dimensional, but the user could independently select the Classification(s) for the axis in both the Analysis and Treatment tabs, defined in the Calculation Method configuration.
In the Calculation Method configuration, the user would do the following for both Analysis and Treatment* →
- Name the X and Y axes
- Identify the Risk Classification Criteria to be multiplied together for each axis.
For Risk Appetite, the user would configure thresholds based upon numeric values (and the system could display expected high and low based upon the configured Risk Calculation).**
*Currently, there are charts that plot the Analysis and Treatment risks on a single chart which would not be able to be generated if different X/Y axes are used → perhaps if the user choses them to be the same, then these charts can continue to be generated.
**This could get interesting with the risk multiplier
I’m sure there’s some unintended consequence that will break something with the above…
Hi David,
thanks for explanation.
We do not have any problems with that (two classifications only) for Assets based risks.include CIA values
We need the third one classification (e.g. Likelihood of Risk) for Business risks.
There we do not need 2-axes matrix there but risk levels by multiply value.
Hello Kisero,
is there any news on implementation?
Thanks in advance,
it wont happen this year, i’m sure of that much!
Hi Kisero,
Is this planned for anytime sooner as we are also looking forward for this.
I still do not understand, how you can chart three variables in two dimensions. Can anyone please explain that here?
For more than one type of impact, we have the " Multiple Matrices - Multiplication" method explained in the documentation: Risk Management | Eramba learning portal
We do consider third variable (Asset score) in risk calculations. Is there a way that we can include this into calculations.
“Inherent Risk = Asset Score + Risk Likelihood Score + Risk Impact Score”
That feature already exists through using liabilities that you associate to assets which will then push the score up (but still won’t move the two axis side - just the score). Of course, when using multiple liabilities and assets associated to a given risk, it’ll turn into a free-for-all rather fast…
Of course, to play devil’s advocate, if you’re doing an asset based risk assessment, you should consider the asset score when determining impact - it’s a sub function of it. Then, how do you address the risk evaluation for two classes of assets but for the same risk? Well, you’d make two risks - one that relates to high value assets and a other that relates to low value.