Journal of Risk Analysis and Crisis Response

Volume 4, Issue 1, March 2014, Pages 49 - 57

Review of the Strengths and Weaknesses of Risk Matrices

Authors
Mustafa Elmontsri
Corresponding Author
Mustafa Elmontsri
Received 5 July 2013, Accepted 29 January 2014, Available Online 3 March 2014.
DOI
https://doi.org/10.2991/jrarc.2014.4.1.6How to use a DOI?
Keywords
Risk Assessment Matrix, Risk Matrices, NHS risk matrix, quantitative risk matrix
Abstract
Risk assessment and risk matrices are powered tools used in risk management and help guide in the process of decision-making in organisations. Nevertheless, risk matrices have their own weaknesses and strengths. This paper provides a critical overview of the development and use of risk matrices in different field with an example of the risk matrix used by the National Health Service (NHS) in England. Risk matrices are helpful tools for risk assessment as they use quantitative measures to ensure consistent method of determining risk but organisations should adjust the design and size of risk matrices to suit their needs.
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Journal
Journal of Risk Analysis and Crisis Response
Volume-Issue
4 - 1
Pages
49 - 57
Publication Date
2014/03
ISSN (Online)
2210-8505
ISSN (Print)
2210-8491
DOI
https://doi.org/10.2991/jrarc.2014.4.1.6How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - JOUR
AU  - Mustafa Elmontsri
PY  - 2014
DA  - 2014/03
TI  - Review of the Strengths and Weaknesses of Risk Matrices
JO  - Journal of Risk Analysis and Crisis Response
SP  - 49
EP  - 57
VL  - 4
IS  - 1
SN  - 2210-8505
UR  - https://doi.org/10.2991/jrarc.2014.4.1.6
DO  - https://doi.org/10.2991/jrarc.2014.4.1.6
ID  - Elmontsri2014
ER  -