Risk Matrix

Risk Matrix

About the Risk Matrix

The Risk Matrix that appears in the Risk Assessment window allows you to make selections that are

used in calculations to determine an overall risk rank value.

The values that you see in the Risk Matrix are determined by various records. The baseline GE Digital APM

database contains a Risk Matrix that you can use when evaluating risk, but if you do not want to use the

baseline values, an administrative user can customize the default Risk Matrix or create a new Risk Matrix.

The following image displays the Risk Matrix that is provided in the baseline database, where no risk

values have yet been specified.

 

 

©

 2020 General Electric Company

 

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Each tab in the Risk Matrix represents an area that might be affected if risk were to be presented. The

Safety, Environment, and Operations tab each contains its own matrix, which combines in a grid format

probability factors with consequence factors. The Financial tab contains text boxes that serve the same

purpose.

Depending on how you access the Risk Assessment window, the risk matrix will represent either

mitigated or unmitigated risk:

• If you have accessed the Risk Assessment window from a record that represents risk before any

actions have mitigated it (for example, a Failure Risk record in ASM or a Failure Effect node in an RCM

Analysis), the specified risk values in each matrix are represented by a 

 icon.

• If you have accessed the Risk Assessment window from a record that represents an action that

might mitigate risk (for example, an Action record in ASM or a Recommendation node in an RCM

Analysis), the previously specified unmitigated risk values are represented by a 

 icon and the

mitigated risk values are represented by a 

 icon.

When a risk value is selected, the number on the corresponding tab is updated to indicate the specified

risk.

In addition, the cumulative values specified in the risk matrix are used in a calculation to determine the

overall risk rank, which is displayed in either the Mitigated Risk Rank or Unmitigated Risk Rank section

on the right side of the window.

 

 

 

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©

 2020 General Electric Company

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