How can a risk identification matrix improve Emergency Management?

1 What is a risk identification matrix?

A risk identification matrix is a table or a chart that displays the likelihood and the impact of different risks. Likelihood refers to how probable it is that a risk will occur, while impact refers to how severe the consequences will be if the risk materializes. By plotting the risks on the matrix, emergency managers can compare and contrast them and assign them a risk rating or a risk score. The risk rating or score is usually calculated by multiplying the likelihood and the impact values, or by using a predefined scale or formula. A risk identification matrix can also include other information, such as the sources, causes, effects, and responses of the risks.

2 How does a risk identification matrix work?

A risk identification matrix works by following a series of steps that involve data collection, analysis, and presentation. The first step is to identify the risks, which can be done by using various methods, such as brainstorming, interviewing, surveying, reviewing documents, observing, or consulting experts. The second step is to assess the risks, which involves estimating the likelihood and the impact of each risk based on evidence, experience, or judgment. The third step is to plot the risks on the matrix, which can be done by using different formats, such as a two-by-two grid, a three-by-three grid, a color-coded chart, or a bubble chart. The fourth step is to interpret the matrix, which involves examining the distribution and the relative position of the risks and identifying the ones that require the most attention or action.