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Sample 5x5 Risk Assessment Matrix page 4 of 4...
5x5 Risk Assessment Sections
•5x5 Risk Matrix - part 4
A risk matrix can by though of as 'chance' calculator, the chance of something happening and the chance of harm arising. Taking this simplistic view we can build a 5x5 risk matrix based on an individuals perception of chance, which removes unnecessary complex words such as Likelihood verses Consequences and Probability verses Severity.
One of the quirks of a 5x5 3 colour graded risk matrix as shown above, is the sudden change of colour from low, medium and high. For example, risk 8 is classed as green and therefore low, whereas risk 9 is classed as yellow and therefore medium. In reality the move up and down the risk scale should be smoother, the increase in actual risk more gradual. Being stringent with a 3 colour classification could be said to be too black and white...
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