Risk-based prioritization: A comparison of approaches

the use of analytical techniques for risk-based prioritization, both quantitative and non-quantitative, is becoming much more wide spread and organizations are tailoring analytical techniques for risk management to their particular needs. This has led to the use of different techniques for different applications within the same organization, and correspondingly, the need for management to reconcile the process and results of different risk-based prioritization approaches. Different risk-based prioritization methods may be used prioritize different types of activities, but eventually these prioritizations may need to be integrated to allocate organizational resources at a higher level or to develop an overall organizational budget. This paper focuses on comparing and contrasting the different risk-based approaches. The objective is to help management understand the different approaches, choose the best approach for their needs, and reconcile different approaches.