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    Risk Matrix

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    Mourad Hosni
    The document is a risk assessment prepared by Mourad Hosni Farah, a 4th year student in the Mining Department at Cairo University. It defines risk assessment as determining the quantitative or qualitative value of risk related to a specific threat. It explains that risk is calculated by multiplying the probability of a loss by the magnitude of the potential loss. It also provides a risk matrix that defines consequences on a scale from catastrophic to insignificant and likelihood on a scale from almost certain to rare in order to calculate risk levels.

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    Risk Matrix

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    Mourad Hosni
    43 views3 pages
    The document is a risk assessment prepared by Mourad Hosni Farah, a 4th year student in the Mining Department at Cairo University. It defines risk assessment as determining the quantitative or qualitative value of risk related to a specific threat. It explains that risk is calculated by multiplying the probability of a loss by the magnitude of the potential loss. It also provides a risk matrix that defines consequences on a scale from catastrophic to insignificant and likelihood on a scale from almost certain to rare in order to calculate risk levels.

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    The document is a risk assessment prepared by Mourad Hosni Farah, a 4th year student in the Mining Department at Cairo University. It defines risk assessment as determining the quantitative or qualitative value of risk related to a specific threat. It explains that risk is calculated by multiplying the probability of a loss by the magnitude of the potential loss. It also provides a risk matrix that defines consequences on a scale from catastrophic to insignificant and likelihood on a scale from almost certain to rare in order to calculate risk levels.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    43 views3 pages

    Risk Matrix

    Uploaded by

    Mourad Hosni
    The document is a risk assessment prepared by Mourad Hosni Farah, a 4th year student in the Mining Department at Cairo University. It defines risk assessment as determining the quantitative or qualitative value of risk related to a specific threat. It explains that risk is calculated by multiplying the probability of a loss by the magnitude of the potential loss. It also provides a risk matrix that defines consequences on a scale from catastrophic to insignificant and likelihood on a scale from almost certain to rare in order to calculate risk levels.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    of 3

    Mourad.Hosni@hotmail.

    com

    Cairo University
    Faculty of Engineering
    4th year Mining Department

    Risk Matrix

    Prepared By: Mourad Hosni Farah

    http://mourad.110mb.com
    Mourad.Hosni@hotmail.com

    1
    Mourad.Hosni@hotmail.com

    Risk assessment is a step in a risk management process. Risk assessment is the


    determination of quantitative or qualitative value of risk related to a concrete situation
    and a recognized threat (also called hazard). Quantitative risk assessment requires
    calculations of two components of risk: R, the magnitude of the potential loss L, and the
    probability p, that the loss will occur.

    A risk is the total of each of the hazards that contribute to it. The risk of any particular
    hazard, H, can be defined as its probability, p, multiplied by its consequence, c. In
    layman's terms: how likely it is to happen and how bad it would be if it happened.

    Hazard = PH * CH
    Therefore the total risk, R, of an event, e, is the sum of the n potential hazards that
    would result in that event:

    This is one example of a number of tools that can assist with your risk assessment
    process.

    What you need to do


    1. Consider what can go wrong
    2. Determine how bad the outcome would be - Consequences
    3. Determine how likely it is to happen - Likelihood
    4. Calculate the risk level

    2
    Mourad.Hosni@hotmail.com

    CONSEQUENCES: How severely could it hurt someone/cause damage?


    Catastrophic death or large number of serious injuries, environmental disaster, huge
    cost
    Major serious injury, extensive injuries, severe environmental damage, major cost
    Moderate medical treatment required, contained environmental impact, high cost
    Minor first aid treatment required, some environmental and/or financial impact
    Insignificant No injuries, low financial/environmental impact

    LIKELIHOOD: How likely is it to happen?


    Almost Certain expected to occur in most circumstances
    Likely will probably occur in most circumstances
    Possible might possibly occur at some time
    Unlikely could occur at some time
    Rare may occur only in exceptional circumstances

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