Context Models

A context model establishes criteria for judging a risk. For each criterion, you create a set of at least three labels, which may be numeric or textual. You then assign a tolerance value and a rating to each label.

• Tolerance values include Accepted, Monitor, and Treat. These are recommendations of how to deal with the risk. You may assign each tolerance value to more than one label. Assign each tolerance value at least once for each criterion.

• A rating is a numeric value that serves as a score. Values range from 1 to 100, although not every one of those values need be assigned. The higher the number, the greater the threat.

While evaluating a risk, a user selects one of the labels created for each criterion. The context model assigns to that criterion the tolerance value and the rating associated with the selected label. The model also calculates overall risk values:

• Of the tolerance values selected for all criteria, the risk assumes the one that requires the most active response.

• The model averages the individual criteria ratings to determine an overall risk rating.