Criticality risk

The Criticality Risk metric is defined as:

$$Risk=\frac{W_{C}N_{C}+W_{R}N_{R}+W_{Y}N_{Y}+W_{G}N_{G}}{W_{C}N}$$

where:

• $W_{C}$ is the criticality weight of (black) critical activities
• $W_{R}$ is the criticality weight of (red) high-risk activities
• $W_{Y}$ is the criticality weight of (yellow) medium-risk activities
• $W_{G}$ is the criticality weight of (green) low-risk activities
• $N_{C}$ is the number of (black) critical activities
• $N_{R}$ is the number of (red) high-risk activities
• $N_{Y}$ is the number of (yellow) medium-risk activities
• $N_{G}$ is the number of (green) low-risk activities
• $N$ is the total number activities in the project, i.e. $N_{C}+N_{R}+N_{Y}+N_{G}$

Using the default settings from the Arrow Graph Settings window, the formula would be:

$$Risk=\frac{4N_{C}+3N_{R}+2N_{Y}+1N_{G}}{4N}$$

The maximum possible Criticality Risk (i.e. when all activities are critical) would be:

$$Risk=\frac{W_{C}N+W_{R}\times{0}+W_{Y}\times{0}+W_{G}\times{0}}{W_{C}N}=\frac{W_{C}}{W_{C}}=1.0$$

The minimum possible Criticality Risk (i.e. when all activities are low-risk) would be:

$$Risk=\frac{W_{C}\times{0}+W_{R}\times{0}+W_{Y}\times{0}+W_{G}\times{N}}{W_{C}N}=\frac{W_{G}}{W_{C}}$$

Using the default settings from the Arrow Graph Settings window, the result of the above formula would be:

$$Risk=\frac{1}{4}=0.25$$

For more details see:

• Arrow graph