Review of the strengths and weaknesses of risk matrices
File(s)
Published version
Author(s)
Elmontsri, M
Type
Journal Article
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.
Date Issued
2014-03-01
Date Acceptance
2014-01-29
Citation
Journal of Risk Analysis and Crisis Response, 2014, 4 (1), pp.49-57
ISSN
2210-8505
Publisher
Atlantis Press
Start Page
49
End Page
57
Journal / Book Title
Journal of Risk Analysis and Crisis Response
Volume
4
Issue
1
Copyright Statement
© Atlantis Press. This article is distributed under the terms of the Creative Commons Attribution License, which permits non-commercial use, distribution and reproduction in any medium, provided the original work is properly cited.
Publication Status
Published