Act 13-2.docx - The likelihood-Severity Matrix also called the Risk Matrix or Heat Map is an ordered matrix with the Probability and Impact on the

Act 13-2.docx - The likelihood-Severity Matrix also called...

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The likelihood-Severity Matrix also called the Risk Matrix or Heat Map, is an ordered matrix, with the Probability and Impact on the coordinate axes and which facilitates the visual comparison between various risks. It allows us to combine the two factors in a single graph and evaluate them at the same time. We can prioritize high rates that affect people's health, the reputation of our brand, or the financial status of our organization. It will be different for each event and organization. In general: Low probability and low impact: they will generally be ignored Low probability and high impact: we will reduce its impact or establish Contingency Plans High probability and low impact: we will reduce the probability High probability and high impact: action will take immediately If high impact means injury or loss of human life, the probability does not matter; the
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Unformatted text preview: risk must always be eliminated. If this is not possible, we will work immediately to minimize its probability and its impact. Eliminating a risk, even if it is not a priority, requires few resources and can be done immediately, we will act on it as soon as possible. It will create involvement with the members of the organization and a safer scenario. References: 1. Matriz Probabilidad-Impacto . Retrieved from, . 2. Implement and monitor WHS policies, procedures and programs to meet legislative requirements. Retrieved from, Participant guide BSBWHS401, Shafston....
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