Setting up the Risk Matrix
How to set up the risk matrix field?
Similar questions: Where to arrange the risk matrix?
In order to change or set up the risk
matrix user needs relevant rights within his/her Role in the tenant of
CONFORMiT software. Refer to your administrator when necessary to obtain the
right to modify risk analysis components.
· Go to and in the Settings
menu within Risk analysis select Risk matrix to open the tab with existing matrix
field layout.
Matrix
itself is an area in between horizontal and vertical axis (usually representing
Severity of possible risk consequences and Probability or Likelihood of its occurrence)
with separate smaller rectangular fields representing the risk estimation
labelled with letters or numbers within the section that sets up axis
parameters.
- Value for each risk is calculated based on the formula in the Axis section of these settings that takes value of each category within Risk factors that is selected by risk analysis team. Another parameter that influences where the risk will fall within the matrix is Value of each Definition within Scale of Axis that is set up above the matrix in Settings.
- Editing names and parameters of Axis, Definitions and its values is described in the article How to set up and edit horizontal and vertical axis of the risk matrix?
- To arrange fields (rectangles) in the matrix
click on edit button
that appears once cursor is placed on the field
- In the window that opens change the name or
color if necessary (by default it is labeled by letters and numbers of two
values that crossed in this field according to Scale section of Axis set up). To confirm click on
- As you made changes to the Title and/or color of a certain field, you will see them immediately on the matrix
- Set up the Risk Matrix according to standards and procedures used in your company for the risk analysis to comply with corporate policies.
Usually
“green” field color is used for acceptable risk ratings, “yellow” or “orange”
color for medium risk, which requires additional mitigation measures to reduce
it to acceptable “green” level and “red” color for unacceptable high risks,
which mean that job cannot be performed with this level of risk unless
mitigation measures reduce it to “green” level. Risk matrix setup determines
which level of Severity and Probability of the risk is “acceptable” by marking
these fields as “green” and which level is unacceptable, marking such boxes
into “red”, “orange” or “yellow” color.
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