What is 'risk score' in SAP EHS-MGM - SAP EHS Management?

risk score - Overview

• Component: EHS-MGM

• Component Name: SAP EHS Management

• Description: A quantitative statement about risk that is a product of risk analysis methods.

risk score - Details

• 
  Key Concepts: 
  Risk score is a numerical value assigned to a hazard or risk in SAP EHS Management. It is used to measure the severity of the risk and to prioritize the risks that need to be addressed. The risk score is calculated based on the probability of occurrence and the potential severity of the hazard or risk. 
  
  How to use it: 
  Risk scores are used to identify and prioritize risks in SAP EHS Management. The higher the risk score, the higher the priority for addressing the risk. Risk scores can be used to compare different risks and prioritize them accordingly. 
  
  Tips & Tricks: 
  When calculating risk scores, it is important to consider both the probability of occurrence and the potential severity of the hazard or risk. This will ensure that risks are accurately prioritized and addressed in a timely manner. 
  
  Related Information: 
  Risk scores are just one part of a comprehensive risk management strategy. Other factors such as cost, legal requirements, and organizational objectives should also be taken into consideration when assessing risks in SAP EHS Management.