Likelihood of failure
Imminent, probable, possible, improbable
Likelihood of impact
High, medium, low, very low
Likelihood of failure and impact
Very likely, likely, someone likely, unlikely
Consequences of failure
Severe, significant, minor, negligible
Risk ratings
Extreme, high, moderate, low
Risk categorization process
Assess likelihood of failure Assess likelihood of impact Determine likelihood of failure and impact Assess consequences of failure Categorize risk rating
Highest risk
Assigning a trees overall risk at the highest level of risk for the various target/failure mode for whatever is defective