![]() Conducting a comprehensive assessment of risks contributes to preventing accidents and mitigating the consequences resulting from accidents. It is the process of determining the element of risk and the possibility of its occurrence, as well as the effects caused by each risk. The consequences may be noticeable and have a clear impact, and it is possible to take the necessary action with the completion of the workflow, but in certain cases the consequences are catastrophic, and here the implementation of the project must be stopped immediately and the necessary measures taken to reduce the impact of the risk and maintain it to a minimum possible, and then resume the work. The consequences may be minor, without harm or damage, as it is possible to complete the implementation of the project without taking any current action. The greater the impact of the danger and the consequences arising from it, the greater the need to give it greater importance. Consequences and effects of the danger.The risk matrix is concerned with three main aspects : These risks can be existing or can be predicted to occur in the future. ![]() It includes specific information about all potential problems and risks. The risk matrix is the main source of information that is referenced to know the possibility of implementing a project. Managers and business owners rely on many tools to manage risks, but the most prominent and most important is the risk matrix.Īnd being the owner of a company or project, it will interest you to know more about the risk matrix so that you know how to use it in facing the potential risks of your business and reach the goals you aspire to without any obstacles or threats to the progress of your work.Ī risk matrix is a tool used by entrepreneurs and project owners to assess potential problems in their companies and businesses. ![]() Risk management is part of the strategic management in companies, and it is represented in a set of procedures that they follow in an orderly manner to confront the risks associated with their activities to prevent or reduce the risk, and the size of losses when they occur and work to prevent them from recurring by studying the causes of the occurrence of each risk to avoid it in the future.
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