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- Keshav Ram Singhal
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Blog on 'Quality Concepts and ISO 9001: 2008 Awareness' at http://iso9001-2008awareness.blogspot.in

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Thursday, October 27, 2016

RISK MATRIX


Risk Matrix

A Risk matrix is a matrix that is used during risk assessment to define the various levels of risk as the product of the harm probability categories and harm severity categories. This is a simple mechanism to increase visibility of risks and assist management decision making.

Risk Matrix Chart Diagram



Likelihood = How likely is the event of risk to occur
Rare / Very Unlikely = Only in exceptional circumstances
Unlikely = Might occur in future time
Moderate /Possible = Might occur at some time
Likely = Probably occur in most circumstances
Very likely = Almost certain = Expected in most circumstances

Impact = A marked effect or influence
Negligible = No injuries, No damages
Minor = Minor injuries, Minor damages, First aid required
Moderate = Some injuries, Medium damages, Medical help necessary
Major / Significant = Extensive injuries, High damages, Medical help necessary
Extreme / Severe = Death or major injuries, High level damages, Medical help necessary


Note: Above 'Risk Matrix Chart Diagram' is an example. Every organization may have its own Risk Matrix Chart.




2 comments:

  1. Thank you for posting such a nice blog it will help many people now you can search iso certification lucknow

    ReplyDelete
  2. Its good and nice activity but this blog Risk Management may improve assessment criteria because probability criteria is very generic and impact criteria only related safety not quality.

    ReplyDelete