Calculator Input Form
Use the inputs below to calculate a weighted risk score, expected monetary value, schedule exposure, and the final matrix placement.
Example Data Table
| Risk | Probability % | Probability Rating | Weighted Impact | Matrix Score | Severity |
|---|---|---|---|---|---|
| Vendor Delivery Delay | 65% | 4 | 3.40 | 13.60 | Significant |
| Scope Creep | 80% | 4 | 4.25 | 17.00 | High |
| Security Compliance Gap | 35% | 2 | 4.50 | 9.00 | Medium |
| Testing Resource Shortage | 55% | 3 | 3.70 | 11.10 | Significant |
| Critical Integration Failure | 90% | 5 | 4.80 | 24.00 | Critical |
Formula Used
1) Probability Rating
Probability Rating = ceil(Probability % ÷ 20)
2) Weighted Impact
Weighted Impact = (Cost×Cost Weight + Schedule×Schedule Weight + Quality×Quality Weight + Scope×Scope Weight) ÷ Total Weights
3) Matrix Score
Matrix Score = Probability Rating × Weighted Impact
4) Priority Index
Priority Index = (Matrix Score ÷ 25) × 100
5) Expected Monetary Value
EMV = Probability Decimal × Monetary Impact
6) Expected Schedule Slip
Expected Delay = Probability Decimal × Potential Delay Days
This calculator blends matrix scoring with weighted impact analysis, monetary exposure, and expected schedule effect for richer project risk evaluation.
How to Use This Calculator
- Enter a clear risk name and the responsible owner.
- Select the category that best matches the risk.
- Provide the probability as a percentage.
- Enter possible monetary loss and delay days if known.
- Rate cost, schedule, quality, and scope impacts from 1 to 5.
- Adjust the dimension weights to match project priorities.
- Click the calculate button to view the matrix score and charts.
- Download the CSV or PDF report for sharing or documentation.
FAQs
1) What does this calculator measure?
It measures risk severity by combining probability, weighted impact, expected monetary value, and expected schedule slip. The result helps rank project risks consistently.
2) Why use weighted impact instead of one impact rating?
Weighted impact reflects project priorities better. For example, schedule may matter more than cost on one project, while quality may dominate on another.
3) What scale should I use for impact ratings?
Use 1 for very low impact and 5 for very high impact. Keep the rating logic consistent across all project risks.
4) What is expected monetary value?
Expected monetary value estimates average financial exposure. It multiplies probability by the possible cost impact to support budgeting and contingency planning.
5) Can the weights total more or less than 100?
Yes. The calculator normalizes the weights by dividing by the total entered. A 100 total is still easier to interpret.
6) How is the matrix cell selected?
The calculator uses the probability rating and the rounded weighted impact rating. That point is highlighted inside the 5x5 matrix.
7) Should this tool replace team judgment?
No. It supports judgment, prioritization, and discussion. Final responses should still consider context, dependencies, and leadership decisions.
8) When should I recalculate a risk?
Recalculate whenever probability changes, impact assumptions shift, mitigation actions are applied, or project conditions materially change.