2. Vulnerability self assessment worksheets
• For each chain identified, this stage is a structured process of elicitation in each of the six areas
of risk to identify where the company is most exposed.
• This process is designed to both identify and calibrate the severity potential for the specific types of risk - internal and
external.
• Elicitation is designed to capture the 20% of events that will likely drive 80% of the risks.
• Calibration is based on the exposure of the business to the risk, where appropriate offset by the existence of operational measures or market place conditions (if any) that will mitigate the risk.
• Calibration is based on a simple 0,1,2 format corresponding to: ‘none’: ‘some’: ‘significant’.
• The mitigation offset is based on the reverse format of 0,1,2 meaning: ‘significant’: ‘some’: ‘none’
and this is used as a multiplier to enable the user to classify the relative risk.
• This means that a highly significant risk with no mitigation offset gets a value of 2 times 2 = 4.
• At the end of this process the most significant risks from each area of the supply chain can be assembled and ranked.
• This form is carried through to the next phase with as many points as are considered significant.