Risk Severity
Risk severities categorize and prioritize risks based on their importance to the organization.
Risk severities are used to indicate how important a risk is. The severity that is assigned to a risk can help management prioritize the allocation of resources that are to be made available for minimizing the risk’s likelihood and/or the impact on the organization.
Only a person who has the Account Administrator role of an account can maintain the risk severities of that account.
As soon as the Risk Management functionality of a Xurrent account is activated by the account owner in the ‘Account Settings’ section of the Settings console, four default risk severities automatically become available.
The Risk Severity Fields page provides field utilization guidelines for each field of the Risk Severity form.