First, why do we use evaluation criteria? To segment significant aspects from the non-significant aspects. Why? Because resources are scarce, we should focus our attention and resources on those aspects where we can get the most improvement leverage. There is no other reason for developing evaluation criteria. So, any criteria that help your organization doing that is acceptable. Some organizations start with simple criteria like gravity, frequency/probability and ability to control or influence and then, with time, evolve to include other criteria like economic outcomes. So, if you are starting, I recommend a simple approach.
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