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Given the case study failure – which cost the business $10million – the data centre manager decides to reduce risk and therefore likelihood of failure. Improvement works will require $1m of investment, and will reduce the likelihood of failure from 1 failure every 2 years, to 1 failure every 10 years.
What is the new risk in $/year?
Remember: Risk = Likelihood x Severity
Therefore for the original case: Risk = 1 failure/2 years x $10m = $5m/yearCorrectIncorrect
From a business perspective, did the data centre manager make the right decision?CorrectIncorrect