The scoring of risks, opportunities and residual risks works automatically based on consequences and probabilities.

Risk scores are most often calculated from the risk matrix as a multiplication, but depending on the risk assessment method there are exceptions to this. Falcony enables multi-dimensional risk score calculation and fully customized scoring for risks and opportunities. To hear more, contact our customer support: support@falcony.io.

Falcony uses a 5x5 matrix as the default risk matrix, where the multiplication of the probability and the severity of the consequences yields a risk score number between 1-25.

However, you can see from the Observation Templates tab on Falcony's Administration section that the system also has ready-made risk form templates for 3x3, 4x4 and 6x6 risk matrix.

3x3 Risk matrix

4x4 Risk matrix

6x6 Risk Matrix

If you want to use one of these options, they are available for you in Falcony Risk. Please be in touch in case you would like to utilize something from your own risk matrix base. By modifying the risk categorization, we also get the risk management dashboards working in a way that best supports your operations.

Falcony's Risk Management service is always automatically accompanied by a ready-made Dashboard built on Microsoft's Power BI service. Please note that the implementation of Power BI requires a Microsoft Office license.

With the dashboard, you can analyze risks and drill down deeper into which areas, units and categories include the most observed risks and much more.

If you want to customize the Dashboard to your own needs, please contact us. Power BI enables dashboards to be customized almost freely, but it may require some technical knowledge related to the tool. Falcony provides support in the modification of dashboards for a separate pricing and we can also contact you with our partners to help in this matter.