A Risk Assessment Matrix is a vital part of risk management. It allows you to evaluate risks and implement a plan to mitigate them.
What is a risk assessment matrix? A risk matrix is a tool that helps you to identify, assess and control risks. It does this by providing a systematic way of looking at all the potential risks that could affect your business or project.
Why use this matrix?
You would want to use a matrix for many reasons. The main reason is that it provides a structured approach to identifying, assessing, and controlling risks. This means that you can be sure that you have considered all the potential risks and have taken steps to minimize them.
How do I use a matrix?
There are four simple steps to using a matrix:
– Step One: Identify the hazards
– Step Two: Assess the risks
– Step Three: Control the risks
– Step Four: Review and update the matrix.
We hope this information has been useful to you.