Episode Details

This episode details a methodology for modelling and evaluating risk, focusing on the interplay between qualitative and quantitative methods. A key component is a risk matrix, using both numerical and descriptive risk levels, allowing for communication with both senior management and other stakeholders. The system facilitates the aggregation and prioritisation of risks and adapts to changing risk appetites and tolerances. The method is designed for practicality and ease of maintenance, with database integration using SQL for efficient management of multiple risk scenarios. The approach prioritises clarity and ease of use for senior management, who are more comfortable with the concept of economic loss.