Score
From Open Risk Manual
Definition
A Score is a Statistical / Mathematical Concept that provides a numerical record of points earned in some scoring process.
Context
Scores find widespread application in Risk Management as they facilitate aggregating and summarizing information about a system, entity or Risk and communicating such information in a concise manner.
Usage
A Scorecard is a system for compiling a set of partial scores which may be suitably summed into a final score.
Examples
- A Rating is typically a more coarse grained assessment / aggregation
- A Risk Score is a score applied in the assessment of Risk
- A Credit Score is a scoring system that aims to assess Creditworthiness
