COMPARISON RISK RANKING

What Is It

Comparison risk ranking (CRR) is a method of ranking risks. It compares two risks at a time in conjunction with the project criteria. In this method there is an explicit comparison of every risk with every other risk and participants cast a vote for each comparison.

Note: Even with defined criteria, individuals will have their own background information that will affect how they prioritize. Multivoting is a good way to conduct a straw poll and see where individuals' initial rankings are.

When To Use

Use CRR

• To rank a small number (<20) of risks.
• When there is no need for degree of preference. Risk A is ranked higher than B. How much more important is A does not matter.

Benefits

The method

• Provides a qualitative ranking of risks.
• Simplifies the risk prioritization by addressing two risks at a time.
• Is an excellent way for project members to share information about risks.