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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. Ita prorsus, inquam; Non autem hoc: igitur ne illud quidem. Aliter enim nosmet ipsos nosse non possumus. Duo Reges: constructio interrete. Quamquam te quidem video minime esse deterritum. Honesta oratio, Socratica, Platonis etiam. Quae fere omnia appellantur uno ingenii nomine, easque virtutes qui habent, ingeniosi vocantur. Maximus dolor, inquit, brevis est. Moriatur, inquit. Fortasse id optimum, sed ubi illud: Plus semper voluptatis? Dolere malum est: in crucem qui agitur, beatus esse non potest. Non enim, si malum est dolor, carere eo malo satis est ad bene vivendum. Sed quid sentiat, non videtis. Nam Pyrrho, Aristo, Erillus iam diu abiecti. Hoc non est positum in nostra actione. An dolor longissimus quisque miserrimus, voluptatem non optabiliorem diuturnitas facit? Quid sequatur, quid repugnet, vident. Ergo instituto veterum, quo etiam Stoici utuntur, hinc capiamus exordium. Utrum igitur tibi litteram videor an totas paginas commovere? Qua tu etiam inprudens utebare non numquam. Tum Quintus: Est plane, Piso, ut dicis, inquit. Quid est enim aliud esse versutum? Quod praeceptum quia maius erat, quam ut ab homine videretur, idcirco assignatum est deo. Sed tamen est aliquid, quod nobis non liceat, liceat illis. Nec vero alia sunt quaerenda contra Carneadeam illam sententiam. Nummus in Croesi divitiis obscuratur, pars est tamen divitiarum. 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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