Simulating models of relative risk forecasting in a network system

A method comprising:

• receiving, by a processor, a set of risk data associated with a set of risk factors that are organized in a hierarchy of groupings from a client device, each risk factor of the set of risk factors being associated with one or more risk controls that each have a control strength value for reducing riskiness of the risk factor;
• determining, by the processor, an inherent risk value for each grouping of the hierarchy of groupings based on risk data associated with the grouping;
• generating, by the processor, a risk forecasting model of residual risk for each grouping, residual risk being an amount of riskiness after control strength values of the risk controls are applied to the inherent risk value;
• and
• outputting, by the processor, the risk forecasting model for display on a graphical user interface to the client device.

A non-transitory computer-readable medium comprising program code that is executable by a processor for causing the processor to:

• receive, from a client device, a set of risk data associated with a set of risk factors that are organized in a hierarchy of groupings, each risk factor of the set of risk factors being associated with one or more risk controls that each have a control strength value for reducing riskiness of the risk factor;
• determine an inherent risk value for each grouping of the hierarchy of groupings based on risk data associated with the grouping;
• generate a risk forecasting model of residual risk for each grouping, residual risk being an amount of riskiness after control strength values of the risk controls are applied to the inherent risk value;
• and
• output, to the client device, the risk forecasting model for display on a graphical user interface.