Risk event types

A risk event is a potential asset failure. Each risk event type defines how Infor Public Sector will calculate assets' risk scores for a particular failure definition.

To calculate risk scores, Infor Public Sector multiplies each asset's probability of failure (PoF) for the event by its consequence of failure (CoF) value. The PoF is based on the the probability of failure type that is selected for the event type, and the CoF is based on the consequence of failure group. PoF and CoF multipliers may also apply to specific asset groups.

The product of the PoF and the CoF is the maximum risk score. If steps are taken to mitigate the risk, Infor Public Sector divides the maximum risk score by the sum of the mitigation factors. For example, if a mitigation factor reduces the risk by half, Infor Public Sector divides the maximum risk score by 2. Thus the risk score for each asset is calculated using this formula:

Risk Score = [(PoF * PoF Multiplier) * (CoF * CoF Multiplier)] / Total Mitigation Factor