Primary navigation:

QFINANCE Quick Links
QFINANCE Topics
QFINANCE Reference
Add the QFINANCE search widget to your website

Home > QFINANCE Dictionary > Definition of RPN

Definition of

RPN

Risk abbr

number used to quantify risk Risk Priority Number: a measure used in Failure Mode and Effects Analysis to quantify risk. It is a product of the severity, probability of occurrence, and ability to detect failure.

RPN - Related Articles

  • Countering Supply Chain Risk

    Best Practice

    high severity score. Step 4. For each potential risk, calculate the risk priority number (RPN) as RPN = opportunity × probability × severity. Step 5. Use Pareto analysis to analyze risks by RPN. Pareto analysis is a formal technique used where many possible courses of action are competing
    By Vinod Lall

More

Definitions of ’RPN’ and meaning of ’RPN’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’RPN’ and other financial terms with our online QFINANCE Financial Dictionary.

Back to top

Related

Most Viewed

Recommended

Latest

 
QFINANCE www.qfinance.com