Application of the matrix approach in risk assessment

Abstract

The risk assessment process is based on risk management. Risk assessment is, in principle, an entirely empirical decision-making process, based on risk assessors’ knowledge and experience, necessary to identify (a) hazard(s) as the cause for risk by using specific and well-known and recognized methods so far. Currently, there are a large number of methods recognized for risk assessment, which are mostly formed by various organizations and associations of engineers, usually in insurance companies. The paper presents the most pragmatic matrix (qualitative) risk assessment methods, such as: a 3x3 matrix (OHSAS), a 4x4 matrix (AS/NZS 4360) and a 5x5 matrix (MIL-STD-882B). The paper is significant in that the matrix approach in risk assessment is the basis for the development of risk assessment methods, regardless of the method of the group which they belong to.