Path: Organization > Lookups > Risk Factor Formulas
Risk factor designations are used as a sorting tool to help you identify items that take precedence over others. For example, you may have a number of PMs, but those with a Risk Factor of '1' would be assigned before other PMs in the queue.
The Risk Factor formula in WebTMA was originally created for the healthcare industry; however, it is also applied to equipment other than biomedical. Regardless of the item, the formula is used to help you quickly identify high priority items that must be addressed first.
Risk factors are applied to Lookup Types to avoid having to make calculations for individual items which would be time-consuming.
Use the Risk Factor Formula window to create your own risk formulas. The following windows allow you to select the formula:
- Biomed > Biomed Make/Model
- Equipment > Equipment Make/Model
- Lookups > Equipment Types
If you use the optional Capital Planning module, several windows in the module also has Risk Level selection opportunities.
Risk Levels can also be selected for individual items from the Organization > Equipment and Organization > Biomed windows.
The calculation is used to determine the Risk Level displayed on the Equipment and Biomed windows as well as the Lookups > Device Types window. When you create a new Biomed or Equipment record, a Risk Level displays by default if the Make/Model, Equipment Type, or Device Type affiliated with the item has a defined risk level. The hierarchy used by WebTMA to select a Risk Level for Biomed is:
- Item Record (entered manually or calculated from the record)
- Make/Model
- Device Type
The hierarchy used by WebTMA to select a Risk Level for Equipment is:
- Item Record (entered manually or calculated from the record)
- Make/Model
- Equipment Type
Risk Factor Formula Details
When using the Risk Factor Formula window, the hierarchical grid displays the Factors (e.g., Q1, Q2, etc.) and the available Responses. When a new Factor is saved, it is assigned an auto-generated line number.
The line number does not change and is not re-assigned if a previous line in the list is deleted. The line number itself is used in the Formula field.
The Formula field accepts standard math equations that include Add, Subtract, Multiply, Divide, and grouping (parenthesis) and then checks to be sure the formula is valid. Variables are preceded by the letter 'Q'. For example, Q1 indicates the Factor line numbered 1.
Be sure to use lines with appropriate underlying values. It is your responsibility, for example, to assure the divisor in a formula is not equal to zero.
You have the option to apply the formula to any or all the available check boxes: Equipment, Biomed Equipment, Equipment Make/Model, Biomed Make/Model, and Capital Planning (if you have the CP optional module).
Equally important to the Factor settings are the Range settings described in the next topic, Risk Factor Formula Range. Without established range values, WebTMA cannot calculate a Risk Level.
Risk Factor Formula Range
The Range Section on the Risk Factor Formulas window is essential in calculating a Risk Level for Equipment and Biomed Equipment.
The following table is an example of the range of EM #'s and the related Risk Level and Inventory Classification. This example table is used for the Default formula; however, you can create your own Risk Level definitions and classifications. Regardless of the way you define a Range, a formula cannot return a valid EM # unless you have defined Ranges in this Section.
For general information about Lookups, see Lookups - WebTMA 7.