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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. Ego vero isti, inquam, permitto. Summum ením bonum exposuit vacuitatem doloris; Callipho ad virtutem nihil adiunxit nisi voluptatem, Diodorus vacuitatem doloris. Quid Zeno? Quid enim ab antiquis ex eo genere, quod ad disserendum valet, praetermissum est? Claudii libidini, qui tum erat summo ne imperio, dederetur. Duo Reges: constructio interrete. Iis igitur est difficilius satis facere, qui se Latina scripta dicunt contemnere. Cuius ad naturam apta ratio vera illa et summa lex a philosophis dicitur. Aliter enim explicari, quod quaeritur, non potest. Atque haec coniunctio confusioque virtutum tamen a philosophis ratione quadam distinguitur. Dici enim nihil potest verius. Hoc etsi multimodis reprehendi potest, tamen accipio, quod dant. Sed ne, dum huic obsequor, vobis molestus sim. Ita ceterorum sententiis semotis relinquitur non mihi cum Torquato, sed virtuti cum voluptate certatio. His singulis copiose responderi solet, sed quae perspicua sunt longa esse non debent. Ergo ita: non posse honeste vivi, nisi honeste vivatur? Beatus autem esse in maximarum rerum timore nemo potest. At modo dixeras nihil in istis rebus esse, quod interesset. Idemne, quod iucunde? Expectoque quid ad id, quod quaerebam, respondeas. Restinguet citius, si ardentem acceperit. Bonum integritas corporis: misera debilitas. Quod non faceret, si in voluptate summum bonum poneret. 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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