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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. 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
  2. I don't the risk management we can improve but we have to initiate the iso certification body to protect our risk.

    ReplyDelete