Risk Matrix

Example: Customizing Row, Column, and Tooltip Labels

Suppose the internal matrix that your company uses to evaluate safety risk looks like this:

 

 

 

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You want to begin using GE Digital APM Asset Strategy Management to create Asset Strategies and

evaluate risk, and the baseline GE Digital APM Risk Matrix that will be used in ASM looks like this:

 

 

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You could modify the baseline Risk Matrix so that the probability and consequence labels more closely

resemble the Risk Matrix that you are familiar with.

To do so, in the Risk Matrix record, you would need to:

• Select the Hide Numeric Risk Rank check box, which hides the probability values 0.0001 through 1

and consequence values 1 through 1000 from the Risk Matrix.

• Select the Use Maximum Risk Rank check box, which causes the total risk rank value to be the

maximum risk rank across all categories (tabs) versus the sum of all risk rank values.

• Select the Use Aliases check box, which allows you to define your own custom labels.

• Type the text {r}{c} in the Alias Format Mask text box.

Then, in the Probability and Consequence records that are linked to the Safety Risk Category record, you

would need to create aliases to specify the labels that you want to see in the Risk Matrix. Specifically, you

would need to:

• Specify the probability values A through E in the Alias field in the Probability records. For example, in

the Unlikely Probability record with the Probability value 0.0001, you would type A in the Alias text

box.

If you were to view the Risk Matrix, you would see a row with the label Unlikely A, as shown in the

following image.

In each remaining Probability record, you would specify the aliases B, C, D, and E.

• Specify the consequence values 1 through 5 in the Alias field in the Consequence records. For example,

in the Very High Consequence record with the Consequence value 1000, you would type 5 in the Alias

box.

If you were to view the Risk Matrix, you would see a column with the label Very High 5, as shown in the

following image.

 

 

 

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In each remaining Consequence record, you would specify the aliases 2, 3, 4, and 5.

When you finished defining the aliases, the completed Safety section in the Risk Matrix would look like

this:

 

 

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 2020 General Electric Company

 

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