What is a Risk Data Quality Assessment?
Risk data quality assessment checks how trustworthy the information behind each risk rating is — accuracy, reliability of source, completeness, and how well the risk is actually understood — before analysis leans on it. A high-impact score built on one person's anecdote is not the same input as one built on measured history, even if the matrix colors them identically.
Its output adjusts confidence, not just scores: low-quality data on a big risk is itself a finding — go get better data before betting reserves on it.
Worked example
Two risks both score high: geotechnical failure (backed by 40 boreholes and lab results) and "community opposition may delay permits" (backed by one newspaper column). The data quality assessment flags the second — before the project prices a six-month delay into reserves, it commissions an actual stakeholder survey. Result: opposition is one vocal individual, the risk re-scores to low, and $2M of contingency goes back where it belongs.