What is a Risk Matrix?

Posted 4 years ago

Most organisations won’t need to use risk matrices, but they can be useful for working out the level of risk associated with a particular hazard and for prioritising hazards.

To create a 5×5 risk matrix, first assign a numerical value from 1 to 5 as the likelihood of the event happening, where 1 indicates that there’s a very low chance of it happening and 5 means that it’s almost certain to happen.

Then assign a numerical value, again from 1 to 5, representing how bad the injury could be or its severity, where 1 is the lowest – it would cause a fairly minor injury, and 5 means that the consequences would be the most serious, maybe even fatal.

You then multiply the two values together. (It’s really important to remember to multiply and NOT add the numbers.)

You then need to plot your hazard on the matrix to see if it falls in the low, medium or high-risk area.

Let’s look at an example – a new employee with no training in charge of a fork-lift truck – the likelihood of an accident is extremely high – 5, the severity of the injury which could result from the accident is also very high – 5. So, the risk level is 5×5 = 25 – which is the highest it could be.

You replace the new employee with a fully trained member of staff, and the likelihood of an accident reduces to 1, however – it’s really important to remember that the severity of any injury could still be 5. So, the risk would now be 1×5 = 5.

Using a risk matrix allows you to evaluate each risk and helps to indicate which hazards to deal with first. It’s not about just doing the easy things first. A risk matrix helps you to develop a prioritised action plan.

Risk Assessment Training

No matter what type of organisation you have and the type of work you do, it’s essential to identify the health and safety risks involved in it and completing risk assessments is a structured way to do this. Risk assessments make a real difference to health and safety and all organisations must do them. This course will cover how to create an effective Risk Assessment and provide you with a free tool to complete your risk assessments.

Get started with your free no-obligation trial today!