Riskimaatriksi

Riskimaatriks, or risk matrix, is a tool used in risk management to evaluate and prioritize risks by mapping the likelihood of an event occurring against its potential consequence. The matrix is typically a grid with one axis representing probability and the other representing impact. Each identified risk is plotted according to these dimensions and assigned a risk level, commonly described as low, medium, high, or extreme.

Construction involves: defining risk criteria and scales (for example, 1 to 5 for both probability and impact), establishing a grid often with color coding, identifying risks through expert judgment, data, or both, placing each risk on the matrix, and determining actions based on the resulting rating.

Uses include supporting decision making, prioritizing controls, and communicating risk to stakeholders. Risk matrices are widely used in project management, safety engineering, IT security, healthcare, and environmental management.

Advantages include simplicity, visual clarity, and speed. Limitations include subjectivity in scoring, dependence on the chosen scales and cut-offs, potential oversimplification of complex interactions, and the fact that it represents a static snapshot of a dynamic system. It is usually complemented by more quantitative methods when precision is required.

Example: a risk with high probability and high impact is rated as extreme and warrants immediate mitigation; a low-probability, low-impact risk may be rated as low priority.

See also risk assessment, risk management.