See How Procipient® Digs Deeper Into Your Risk
Procipient®'s Five-Factor Risk Framework
While several models use analysis techniques with multiple factors, generally two or three or more, Procipient® is differentiated by its five-factor approach. With this approach, Procipient® conforms to global risk standards and ensures that risks are understood, kept in perspective and can be prioritized.
Five factor risk assessment allows for a more honest and accurate assessment of risk. Many people try to assess the impact and likelihood of a risk simultaneously and are forced into a subjective judgment call, deciding that one risk is scored higher than another, more impactful risk, because it is a risk the organization is more likely to be content with in the next 12 months. By assessing likelihood, impact and controls independently to calculate more objective residual risks, you’re able to provide an easy way to understand risk levels on a numeric scale that provides understanding and direction for focus. Strategic decisions can then be made to prioritize risk mitigation time and dollars.
This well-defined approach presents a more precise picture of a company's risk. Download our flyer to see more about how Procipient® digs deeper with a five-factor approach to risk assessment, or read more about this risk factor model on our blog.