Risk Management Methods and Tools

AFFINITY GROUPING

What Is It

Affinity grouping organizes large numbers of data (risks) into groupings of related items and ties similar groups together. The outcome forms a structure of related items.

When To Use

Use this method
  • When you have a large amount of data to make sense out of.
  • When you want to address certain risks that relate to each other (groups).
  • When broad issues need to be identified.

Benefits

This method
  • Organizes large amounts of data for easy sorting.
  • Allows new patterns of information to be identified.
  • Helps managers to efficiently allocate resources to address groups of risks.
  • Requires active participation by individuals in the process.
  • Helps to identify duplicate risks.