July 24 | Normalize risk scores to allow for easier comparison and analysis.
Risk scores are adjusted according to the normalization value you enter. For example, if you set 100 as the normalization value, the scores will be on a scale of 0 to 100, essentially becoming a percentage. This allows you to easily see how a specific pipe's risk score compares to the highest risk score.
The formula used for the normalization calculation is:
|
(Pipe risk score / Highest calculated risk score) * Normalization value |
As an example, if:
- The pipe's risk score is 233
- The highest calculated risk score in the model is 545
- And you enter a normalization value of 100
Then, the pipe's normalized risk score will be: (233/545) * 100 = 42.75
Note: Normalization can only be used with the Linear risk method.
See also: Complete Risk Setup