Inspection
Work Planning
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A graphical tool used to evaluate and classify risk by combining the likelihood and consequences of potential events.
A Risk Matrix is a graphical decision-support tool that evaluates and classifies risk by combining the estimated likelihood or Probability of Failure (PoF) with the potential consequences of an event. Risk matrices support consistent prioritization of hazards, inspection activities, corrective actions and risk mitigation measures across an organization.
Risk Matrices provide a structured method for evaluating and communicating risk using standardized likelihood and consequence categories.
Risk Matrices are widely used within engineering, process safety and asset management to support decision-making, although the number of likelihood and consequence categories varies between organizations and applications.
A Risk Matrix is one tool used within a Risk Assessment process, whereas Risk Assessment encompasses the broader identification, evaluation and treatment of risk.
Risk Management; Process Safety; Asset Integrity.
Oil and gas.; Petrochemical.; Manufacturing.; Infrastructure.; Power generation.
ISO 31010
VisualAIM connects glossary concepts to the asset records, inspection histories, and workflows they describe.
