When should a consistent risk analysis method be used?

A consistent risk analysis method should be used when the goal is to produce results that can be compared over time. Here’s the explanation:

When the Goal Is to Produce Results That Can Be Compared Over Time: Consistency in the risk analysis method ensures that results are comparable across different periods. This allows for trend analysis, monitoring changes in risk levels, and assessing the effectiveness of risk management strategies over time.

When the Goal Is to Aggregate Risk at the Enterprise Level: While consistency helps, the primary goal here is to provide a comprehensive view of all risks across the organization. Aggregation can be achieved through various methods, but comparability over time is not the main objective.

When the Goal Is to Prioritize Risk Response Plans: Consistency aids in prioritization, but the main focus here is on assessing and ranking risks based on their severity and impact, which can be achieved with different methods.

Therefore, a consistent risk analysis method is most crucial when aiming to produce comparable results over time.