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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. Venit enim mihi Platonis in mentem, quem accepimus primum hic disputare solitum; Si enim ad populum me vocas, eum. Quis est tam dissimile homini. Tum mihi Piso: Quid ergo? Paupertas si malum est, mendicus beatus esse nemo potest, quamvis sit sapiens. De hominibus dici non necesse est. Quae est igitur causa istarum angustiarum? Sin kakan malitiam dixisses, ad aliud nos unum certum vitium consuetudo Latina traduceret. Neminem videbis ita laudatum, ut artifex callidus comparandarum voluptatum diceretur. Quo plebiscito decreta a senatu est consuli quaestio Cn. Sin te auctoritas commovebat, nobisne omnibus et Platoni ipsi nescio quem illum anteponebas? Amicitiam autem adhibendam esse censent, quia sit ex eo genere, quae prosunt. Pauca mutat vel plura sane; Haec quo modo conveniant, non sane intellego. Tollitur beneficium, tollitur gratia, quae sunt vincla concordiae. Quis istud possit, inquit, negare? Nam ante Aristippus, et ille melius. Duo Reges: constructio interrete. Expressa vero in iis aetatibus, quae iam confirmatae sunt. Quid de Platone aut de Democrito loquar? Qui non moveatur et offensione turpitudinis et comprobatione honestatis? Quae cum ita sint, effectum est nihil esse malum, quod turpe non sit. Graece donan, Latine voluptatem vocant. Te enim iudicem aequum puto, modo quae dicat ille bene noris. Praeteritis, inquit, gaudeo. 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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