Many organizations and tools tend to complicate risk management by utilizing complex prioritization schemes, algorithms, and procedures.  I have found no evidence or studies to indicate that complex prioritization schemes provide more effective risk management capability than simplistic prioritization schemes or processes.   Organizations that focus on simplicity and risk management fundamentals tend to be very successful because they can easily and quickly adapt to changing market conditions.  The ability to quickly adapt to changing market conditions is clearly a critical success factor in our current global economy.  The epic rise and fall of BlackBerry is a striking example of what happens when an organization does not recognize and adapt to rapidly changing industry trends. 

Risk scoring and risk normalization are variations of risk quantification that are quite problematic in my opinion.  The risk scoring and normalization schemes I have seen tend to be very complex.  Complex schemes not only violate the simplicity principle I subscribe to but are also very difficult to modify as the organization or market conditions change (remember BlackBerry).  Risk scores and normalization tend to bury the true risk impact which, caused organizations to waste limited risk management resources by treating risks that will have minimal impact on the overall project outcome or organizational objectives.  A disciplined process with emphasis on simplicity and flexibility is a critical success factor that yields a highly effective process that is dynamic and can quickly adapt to changing market conditions.