Risk and Opportunity Matrix  IF/AND Statements
Hello,
I am trying to utilize a Risk & Opportunity Matrix to assign priority levels to risks and opportunities. I am using this formula to try to do this but I keep getting an #INCORRECT ARGUMENT. Does anyone know why? I even tried a test with only one IF/AND statement to see if it works and I still get the same message. Is it because there are parentheses in the text statements?
=IF(AND([Risk Impact Severity]@row= "Critical", [Risk Probability of Occurence]@row="Very Likely (> 75%)", "Critical", IF(AND([Risk Impact Severity]@row= "Critical", [Risk Probability of Occurence]@row="Probable (51%  75%)", "Critical", IF(AND([Risk Impact Severity]@row= "Critical", [Risk Probability of Occurence]@row="Possible (26%  50%)", "Critical", IF(AND([Risk Impact Severity]@row= "Critical", [Risk Probability of Occurence]@row="Not to be ruled out (5%  25%)", "Critical", IF(AND([Risk Impact Severity]@row= "Critical", [Risk Probability of Occurence]@row="Very unlikely (< 5%)", "Important", IF(AND([Risk Impact Severity]@row= "Major", [Risk Probability of Occurence]@row="Very Likely (> 75%)", "Critical", IF(AND([Risk Impact Severity]@row= "Major", [Risk Probability of Occurence]@row="Probable (51%  75%)", "Critical", IF(AND([Risk Impact Severity]@row= "Major", [Risk Probability of Occurence]@row="Possible (26%  50%)", "Critical", IF(AND([Risk Impact Severity]@row= "Major", [Risk Probability of Occurence]@row="Not to be ruled out (5%  25%)", "Important", IF(AND([Risk Impact Severity]@row= "Major", [Risk Probability of Occurence]@row="Very unlikely (< 5%)", "Acceptable", IF(AND([Risk Impact Severity]@row= "Moderate", [Risk Probability of Occurence]@row="Very unlikely (< 5%)", "Acceptable", IF(AND([Risk Impact Severity]@row= "Moderate", [Risk Probability of Occurence]@row="Not to be ruled out (5%  25%)", "Acceptable", IF(AND([Risk Impact Severity]@row= "Moderate", [Risk Probability of Occurence]@row="Possible (26%  50%)", "Important", IF(AND([Risk Impact Severity]@row= "Moderate", [Risk Probability of Occurence]@row="Probable (51%  75%)", "Critical", IF(AND([Risk Impact Severity]@row= "Moderate", [Risk Probability of Occurence]@row="Very Likely (> 75%)", "Critical", IF(AND([Risk Impact Severity]@row= "Minor", [Risk Probability of Occurence]@row="Very Likely (> 75%)", "Important", IF(AND([Risk Impact Severity]@row= "Minor", [Risk Probability of Occurence]@row="Probable (51%  75%)", "Important", IF(AND([Risk Impact Severity]@row= "Minor", [Risk Probability of Occurence]@row="Possible (26%  50%)", "Acceptable", IF(AND([Risk Impact Severity]@row= "Minor", [Risk Probability of Occurence]@row="Not to be ruled out (5%  25%)", "Acceptable", IF(AND([Risk Impact Severity]@row= "Minor", [Risk Probability of Occurence]@row="Very unlikely (< 5%)", "Acceptable", IF(AND([Risk Impact Severity]@row= "Trivial", [Risk Probability of Occurence]@row="Very unlikely (< 5%)", "Acceptable", IF(AND([Risk Impact Severity]@row= "Trivial", [Risk Probability of Occurence]@row="Not to be ruled out (5%  25%)", "Acceptable", IF(AND([Risk Impact Severity]@row= "Trivial", [Risk Probability of Occurence]@row="Possible (26%  50%)", "Acceptable", IF(AND([Risk Impact Severity]@row= "Trivial", [Risk Probability of Occurence]@row="Probable (51%  75%)", "Acceptable", IF(AND([Risk Impact Severity]@row= "Trivial", [Risk Probability of Occurence]@row="Very Likely (> 75%)", "Acceptable"
Best Answer

Looks like you are forgetting to close out your AND function(s).
=IF(AND(.......), "Critical")
Answers

Here is my test that I also get the incorrect argument error. I even tried adding a statement at the end for when the conditions are not true and still did not work.

Looks like you are forgetting to close out your AND function(s).
=IF(AND(.......), "Critical")
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