Probability with Cost Allocation


If you have set up a cost allocation system, you have the option of allocating a different probability for a risk to each allocation block. For example, if your allocation system represents the calendar sequence 2011 to 2014, you could allocate different probabilities to a risk for each of these years.


If you have an allocation system in operation, the Probabilities form will appear like this:

You can opt to maintain the same probability over each allocation block by clicking on Same for all allocation blocks, or have different probabilities by clicking on Varies with allocation block.


Entering Probabilities for Each Allocation Block

1.   Select Varies with allocation block.

2.   Click on a particular allocation block to select it.

3.   Enter a probability as you would for the non-allocation case, i.e. by typing a value into the box at top right of the form or selecting a range from the list below the box.


When you return to the Cost Data Entry form, Mandrel will show the overall probability of the risk as a cost-weighted probability.