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We’re surrounded by risk but not all risk is created equal, and that’s where this matrix comes in.
Ideally consult broadly to identify possible risks, including analysing ... Lorem ipsum dolor sit amet, consectetur adipiscing elit. Quid ergo attinet gloriose loqui, nisi constanter loquare? An quod ita callida est, ut optime possit architectari voluptates? Ita fit cum gravior, tum etiam splendidior oratio. Tollenda est atque extrahenda radicitus. Quis Aristidem non mortuum diligit? Bork Duo Reges: constructio interrete. Cum sciret confestim esse moriendum eamque mortem ardentiore studio peteret, quam Epicurus voluptatem petendam putat. Quid enim de amicitia statueris utilitatis causa expetenda vides. Quid ergo attinet gloriose loqui, nisi constanter loquare? Qualis ista philosophia est, quae non interitum afferat pravitatis, sed sit contenta mediocritate vitiorum? Quod dicit Epicurus etiam de voluptate, quae minime sint voluptates, eas obscurari saepe et obrui. Eadem fortitudinis ratio reperietur. Philosophi autem in suis lectulis plerumque moriuntur. Et si turpitudinem fugimus in statu et motu corporis, quid est cur pulchritudinem non sequamur? Atqui reperies, inquit, in hoc quidem pertinacem; Quasi ego id curem, quid ille aiat aut neget. At ille non pertimuit saneque fidenter: Istis quidem ipsis verbis, inquit; Familiares nostros, credo, Sironem dicis et Philodemum, cum optimos viros, tum homines doctissimos. An quod ita callida est, ut optime possit architectari voluptates? Quae quidem vel cum periculo est quaerenda vobis; Nam illud vehementer repugnat, eundem beatum esse et multis malis oppressum. Summum ením bonum exposuit vacuitatem doloris; Risk Matrices are simplified representations and as such do not capture the nuances of various risks, in particular they do not consider change of risk factors over time. They are also often generated through a consultative and co-design approach with a focus on qualitative interviews over quantitative data, which can lead to issues with cognitive bias and human error. Electric energy organisation. This academic paper from Science Direct describes a relatively robust approach taken to a risk analysis of an electric energy organisation. View the link to see the full paper, but the risk matrix is captured below. Coming from risk assessment, a risk matrix might be part of a project management toolkit and used at the commencement of a project. Use the following examples of connected and complementary models to weave risk matrices into your broader latticework of mental models. Alternatively, discover your own connections by exploring the category list above. Connected models: Complementary models: Napoleon has been credited with establishing a risk matrix with the consideration of likelihood versus consequences, though we’ve been unable to confirm this and have not attributed the model as a result (though I'd like to think that Napolean was behind this). Oops, That’s Members’ Only! Fortunately, it only costs US$5/month to Join ModelThinkers and access everything so that you can rapidly discover, learn, and apply the world’s most powerful ideas. ModelThinkers membership at a glance:
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