Abstract
Risk matrix has been a widely used risk assessment tool for decades. Despite the convenience of risk matrix, it suffers some theoretical flaws. In this chapter, we introduce what is risk matrix accompanying with what should care in a risk matrix, the flaws of current risk matrix, and the main topics in this book.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Acharya VV, Almeida H, Campello M (2013) Aggregate risk and the choice between cash and lines of credit. J Financ 68(5):2059–2116
Ale B, Burnap P, Slater D (2015) On the origin of PCDS—(Probability consequence diagrams). Saf Sci 72:229–239
Aminbakhsh S, Gunduz M, Sonmez R (2013) Safety risk assessment using analytic hierarchy process (AHP) during planning and budgeting of construction projects. J Saf Res 46:99–105
Aven T (2012) The risk concept—historical and recent development trends. Reliab Eng Syst Saf 99(99):33–44
Aven T (2016) Risk assessment and risk management: review of recent advances on their foundation. Eur J Oper Res 253(1):1–13
Ball DJ, Watt J (2013) Further thoughts on the utility of risk matrices. Risk Anal 33:2068–2078
Bernard C, Jiang X, Wang RD (2014) Risk aggregation with dependence uncertainty. Insur Math Econ 54:93–108
Cox LA (2008) What’s wrong with risk matrices? Risk Anal 28(2):497–512
Duijm NJ (2015) Recommendations on the use and design of risk matrices. Saf Sci 76:21–31
Girardi G, Ergun AT (2013) Systemic risk measurement: multivariate GARCH estimation of CoVaR. J Bank Finance 37(8):3169–3180
Hegde J, Rokseth B (2020) Applications of machine learning methods for engineering risk assessment—a review. Saf Sci 122
Hong YZ et al (2020) Supporting risk management decision making by converting linguistic graded qualitative risk matrices through interval type-2 fuzzy sets. Process Saf Environ Prot 134:308–322
IEC I (2009) Risk management-Risk assessment techniques
Iverson LR et al (2012) Development of risk matrices for evaluating climatic change responses of forested habitats. Clim Change 114(2):231–243
Johnson BB, Swedlow B (2021) Cultural theory’s contributions to risk analysis: a thematic review with directions and resources for further research. Risk Anal 41(3):429–455
Kouvelis P et al (2012) Integrated risk management: a conceptual framework with research overview and applications in practice. The handbook of integrated risk management in global supply chains, pp 1–12
Lee CM et al (2011) Positive and negative alcohol-related consequences: associations with past drinking. J Adolesc 34(1):87–94
Lloyd-Jones DM et al (2019) Use of risk assessment tools to guide decision-making in the primary prevention of atherosclerotic cardiovascular disease. J Am Coll Cardiol 73(24):3153–3167
Orchowski LM, Untied AS, Gidycz CA (2012) Reducing risk for sexual victimization: an analysis of the perceived socioemotional consequences of self-protective behaviors. J Interpers Violence 27(9):1743–1761
Park CL, Grant C (2005) Determinants of positive and negative consequences of alcohol consumption in college students: alcohol use, gender, and psychological characteristics. Addict Behav 30(4):755–765
Rostamzadeh R, Keshavarz Ghorabaee M, Govindan K (2018) Evaluation of sustainable supply chain risk management using an integrated fuzzy TOPSIS-CRITIC approach. J Clean Prod 175:651–669
Smith ED, Siefert WT, Drain D (2009) Risk matrix input data biases [J]. Syst Eng 12(4):344–360
Society for Risk Analysis (2018) Society for risk analysis glossary
Vatanpour S, Hrudey SE, Dinu I (2015) Can Public health risk assessment using risk matrices be misleading? Int J Environ Res Public Health 12(8):9575–9588
Willis HH (2007) Guiding resource allocations based on terrorism risk. Risk Anal 27(3):597
World Health Organization (2012) Rapid risk assessment of acute public health events. World Health Organization
Zhang Y (2016) Selecting risk response strategies considering project risk interdependence. Int J Proj Manag 34(5):819–830
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2022 The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
About this chapter
Cite this chapter
Bao, C., Li, J., Wu, D. (2022). Risk Matrix: Foundations and Overview. In: Risk Matrix. Innovation in Risk Analysis. Springer, Singapore. https://doi.org/10.1007/978-981-19-1480-5_1
Download citation
DOI: https://doi.org/10.1007/978-981-19-1480-5_1
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-19-1479-9
Online ISBN: 978-981-19-1480-5
eBook Packages: Business and ManagementBusiness and Management (R0)