QUANTITATIVE risk analysis in Jira

[Ondrej Doubek]

Has anyone tried to implement quantitative risk analysis, as in, "expressed in €", and a related ROI calculation, to their Jira based risk management process and risk register?

Looking through all the available fields they seem all to be for qualitative risk analysis.

Fields for quantitative risk analysis seem to be missing:

• Asset Value (AV)
• Exposure Factor (EF)
• Secondary Cost (SC)
• Single Loss Expectancy (SLE)
• Annualized Rate of Occurrence (ARO)
• Annualized Loss Expectancy (ALE)
• Cost of Control (CoC)
• Return On Investment (ROI)

And if I would create custom fields for those, can Jira "do the math" and automatically calculate the relate formulas?

AV x EF + SC = SLE

SLE x ARO = ALE

(ALE - CoC) / CoC = ROI

[Kavitha Vaikunthavasan (Seibert-Media) · Accepted solution]

Hi @Ondrej Doubek 

Yes, it is indeed possible to implement quantitative risk analysis in Jira using the Advanced Formula Field from Awesome Custom Fields. This feature enables you to perform complex calculations directly within Jira.

Benefits of Using Advanced Formula Field:

• Complex Formulas, easy configuration: You can use Jira expressions to define complex formulas for risk calculations.
• Custom Fields and Static Numbers: Easily incorporate both custom fields and static numbers into your calculations.
• Automation Rules: Leverage Jira automation rules to trigger notifications based on specific risk thresholds or other criteria.

Example Implementation:

To address your specific needs, you can create the following custom fields and formulas:

Custom Fields:

• Asset Value (AV): Jira Number Field
• Exposure Factor (EF): Jira Number Field
• Secondary Cost (SC): Jira Number Field
• Annualized Rate of Occurrence (ARO): Number Field
• Cost of Control (CoC): Number Field

Formulas:

After creating the custom number fields of Jira, you can use them in the Advanced Formula Field from Awesome Custom Fields to calculate the following:

Single Loss Expectancy (SLE):

{{issue.AssetValue}} * {{issue.ExposureFactor}} + {{issue.SecondaryCost}}

Annualized Loss Expectancy (ALE):

{{issue.SingleLossExpectancy}} * {{issue.AnnualizedRateOfOccurrence}}

Return On Investment (ROI):

({{issue.AnnualizedLossExpectancy}} - {{issue.CostOfControl}}) / {{issue.CostOfControl}}

For more detailed instructions on setting up custom fields and using the Advanced Formula Field, you can refer to our documentation.

Feel free to reach out if you have any further questions or need assistance with the setup!

Best regards,

Kavitha from Awesome Custom Fields

[Ondrej Doubek]

Hi Kavitha,

Thank you for your reply  :-)

this plug-in would indeed do what we need, however, my client (I am a consultant) is using Datacenter Edition, which does not seem to be supported.

Looks like i will have to do this "the hard way"...

[Kavitha Vaikunthavasan (Seibert-Media)]

Hi @Ondrej Doubek

yes, Awesome Custom Fields is only available for the cloud edition. Sorry to hear that, but I hope you were able to solve it in a not so complex way. 

Best regards

Kavitha

[Bill Sheboy · Accepted solution]

Hi @Ondrej Doubek 

No, I have not done what you describe with Jira, and...

If you add custom fields for those values to an issue, you could use automation rules to perform the calculations to set other custom field values.  Please refer to these documentation and example sources to try that:

• https://www.atlassian.com/software/jira/guides/automation/overview#what-is-automation
• https://www.atlassian.com/software/jira/automation-template-library#/rule-list?systemLabelId=all&page=1&pageSize=20&sortKey=name&sortOrder=ASC
• https://support.atlassian.com/cloud-automation/docs/jira-smart-values-issues/
• https://support.atlassian.com/cloud-automation/docs/jira-smart-values-math-expressions/

If you run into challenges with your rule, please post the rule image, the audit log details, and describe what is not working as you expect.  That will provide context for the community to offer help.

Kind regards,
Bill

[Kavitha Vaikunthavasan (Seibert-Media)]

Hi,

it is also possible to implement quantitative risk analysis in Jira using the Advanced Formula Field from Awesome Custom Fields. This feature enables you to perform complex calculations directly within Jira.

I have explained this in detail in the answer section. 

Best

Kavitha from Awesome Custom Fields

[Ondrej Doubek]

Thank you, Bill!
Very useful links indeed.

As my client (I am a consultant) is using Datacenter Edition they might not be able to purchase the PlugIn Kavitha suggested.

That means I might have to invest some good amount of time learning this "from the ground up"  :-)