Memory Trick for Model Failure Likelihood & Severity
Imagine a person named Ted C.
TED C. is not good at using models, SUMtimes it can be severe.
Likelihood:
Testing
Expertise
Documentation
Complexity
Severity:
financial Significance
Use frequency
Model importance
Comments
Thanks! I think this is really neat
@graham
Funny! Here's a direct link to that section in the CIA.Models reading:
Here's an alternative memory trick I came up with
When we talk about "likelihood", think "rolling A set of DICE".
When we talk about severity, we can grade on a scale from A to F, and what's the highest severity of Failure rating? You've guessed it, FFF.
Very nice! I gave you a mention in the wiki article.