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. Non quaero, quid dicat, sed quid convenienter possit rationi et sententiae suae dicere. Duo Reges: constructio interrete. Hoc loco discipulos quaerere videtur, ut, qui asoti esse velint, philosophi ante fiant. Hoc enim constituto in philosophia constituta sunt omnia. Facit enim ille duo seiuncta ultima bonorum, quae ut essent vera, coniungi debuerunt; Habent enim et bene longam et satis litigiosam disputationem. Quantum Aristoxeni ingenium consumptum videmus in musicis? Quam tu ponis in verbis, ego positam in re putabam. Nam aliquando posse recte fieri dicunt nulla expectata nec quaesita voluptate. Non quaero, quid dicat, sed quid convenienter possit rationi et sententiae suae dicere. Conferam tecum, quam cuique verso rem subicias; Sed nimis multa. Ergo id est convenienter naturae vivere, a natura discedere. Cur deinde Metrodori liberos commendas? Aliter homines, aliter philosophos loqui putas oportere? Ut id aliis narrare gestiant? Itaque quantum adiit periculum! ad honestatem enim illum omnem conatum suum referebat, non ad voluptatem. Mihi enim satis est, ipsis non satis. Quid paulo ante, inquit, dixerim nonne meministi, cum omnis dolor detractus esset, variari, non augeri voluptatem? Illa videamus, quae a te de amicitia dicta sunt. Sed nunc, quod agimus; Quem Tiberina descensio festo illo die tanto gaudio affecit, quanto L. Ut enim consuetudo loquitur, id solum dicitur honestum, quod est populari fama gloriosum. 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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