Projects per year
Abstract
In this paper, we discuss various problems in the usage and definition of risk matrices. We give an overview of the general process of risk assessment with risk matrices and ordinal scales. Furthermore, we explain the fallacies in each phase of this process and give hints on which decisions may lead to more problems than others and how to avoid them. Among those 24 discussed problems are ordinal scales, semiquantitative arithmetics, range compression, risk inversion, ambiguity, and neglection of uncertainty. Finally, we make a case for avoiding risk matrices altogether and instead propose using fully quantitative risk assessment methods.
Original language  English 

Number of pages  11 
Publication status  Published  7 Mar 2021 
Publication series
Name  arXiv.org ePrint archive 

Publisher  Cornell University Library 
Keywords
 risk management
 ordinal scales
 risk matrices
 qualitative assessment
 quantitative assessment
ASJC Scopus subject areas
 Safety, Risk, Reliability and Quality
Fields of Expertise
 Information, Communication & Computing
Treatment code (Nähere Zuordnung)
 Application
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Industrial Informatics
Macher, G., Dobaj, J., Krug, T., Blažević, R. & Veledar, O.
1/09/12 → 31/12/24
Project: Research area

AHDHYAMONT  Control platform for hydroelectric power generation
Macher, G., Krisper, M., Dobaj, J. & Krug, T.
1/01/19 → 31/01/21
Project: Research project