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Excel for Office 365 Word for Office 365 Outlook for Office 365 PowerPoint for Office 365 Excel 2019 Word 2019 Outlook 2019 PowerPoint 2019 Excel 2016 Word 2016 Outlook 2016 PowerPoint 2016 Excel 2013 Word 2013 Outlook 2013 PowerPoint 2013 Excel 2010 Word 2010 Outlook 2010 PowerPoint 2010 Excel 2007 Word 2007 Outlook 2007 PowerPoint 2007A matrix is a rectangular array of elements, arranged in rows and columns, that can be used to show the placement of concepts along two axes. For example, you can use a matrix to illustrate the four possible combinations of two concepts or ingredients. By using a SmartArt graphic in Excel, Outlook, PowerPoint, or Word, you can create a matrix and include it in your spreadsheet, email message, presentation, or document.Right-click the matrix that you want to change, and then click Change Layout.Click Matrix, and then do one of the following:.To show the relationship of components to a whole in quadrants, click Basic Matrix.To show the relationship of four quadrants to a whole, click Titled Matrix. The first line of top-level text that you type appears in the center of the matrix, and the first four lines of second-level text appear in the four quadrants.To show the relationship of components to a whole in quadrants, emphasizing the quadrants rather than the whole, click Grid Matrix.To show the relationship to a central idea in a cyclical progression, click Cycle Matrix.For more details on each type of matrix, see. To quickly add a designer-quality look and polish to your SmartArt graphic, you can change the colors or to your matrix.
Probability x Severity version supplied by John Cronjaeger, Airworthiness Technical Assistant, London Executive Aviation LtdSee risk matrix'sLikelihood (Probability)5. Almost Certain4.
Possible (under unfortunate circumstances)1. RareConsequences (Impact)5. Major Injury, resulting in disability3. Injury Requires, Doctor's or Hospital attendance2. Minor Injury, 1st Aid required1. Google chrome closes automatically.
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Minor Injury, 1st Aid not requiredRisk Rating is calculated by multiplying the likelihood against the consequences, e.g. Taking a likelihood of 4, which is classified as Probable, and multiplying this against a consequence of 2, which is classified as a Minor Injury 1st aid required, would give you and overall risk rating of 8, which would be risk rated as a low risk.Low risk equals 1 to 8.Low Risks are largely acceptable, subject to reviews periodically, or after significant change etc.Medium risk equals 9 to 15.Medium Risks should only be tolerated for the short-term and then only whilst further control measures to mitigate the risk are being planned and introduced, within a defined time period. Note: Medium risks can be an organisations greatest risk, it's Achilles heel, this due to the fact that they can be tolerated in the short-term.High risk equals 16 to 25.High Risks activities should cease immediately until further control measures to mitigate the risk are introduced.Faults in the 5x5 matrix.The 5x5 matrix below shows more readily that risks may not always be broadly classified in to three categories.
Risk Assessment Calculator Excel
If we take the two extremes of the medium risk range in the matrix above, we can see that both 9 and 15 sit in the yellow range. However, in the matrix below 9 sits just above and moving out of the green, whereas 15 sits just below and moving into the red range. It can become all to easy for potential risks to be classified in the medium range and management to undertake a tick the box exercise.
Decide on the type of data that will go into your matrix. You may use data from prior research, or you may make a survey of informed people. In a survey, you might ask people to rate impact and probability on a truly quantifiable scale (“How much money would the firm lose?” or “What is the probability, 0 to 100 percent, of this occurring within a five-year time frame?”). Alternatively, in a survey, you might ask people to rate impact on a looser scale (“Rate the negative impact of this event on a scale from 0, for no impact, to 10, for catastrophe”). Decide on the Size of Your Matrix. Determine how to categorize your probability data.
If you have a 2 x 2 matrix, set a “High Impact” event as anything above 50 percent in probability. With a 3 x 3 matrix, divide the probability range equally across the three areas of “High,” “Moderate,” and “Low Probability.” Write the categorization of the probability data for each event – for example, “High Probability” or “Low Probability” – in the “Probability Sector” column on the Event Coordinates Table. Construction of the Risk Matrix Draw the Outlines of the Probability-Impact Risk Matrix.