Improving risk matrices: the advantages of logarithmically scaled axes

Volume: 15, Issue: 2, Pages: 209 - 222
Published: Jan 13, 2012
Abstract
Risk matrices are a common tool used throughout the public and private sector to assess and manage risk qualitatively. However, these matrices have well-documented shortcomings when used for either assessment or management that can be shown by assuming a quantitative scale for the likelihood and consequence axes. This article describes the construction of a logarithmically scaled risk assessment matrix which alleviates some of the limitations...
Paper Details
Title
Improving risk matrices: the advantages of logarithmically scaled axes
DOI
Published Date
Jan 13, 2012
Journal
Volume
15
Issue
2
Pages
209 - 222
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