Risk Matrix as Tool for Risk Assessment in the Chemical Process Industries

Ruge, Bernd

doi:10.1007/978-0-85729-410-4_431

Cited by 29 publications

(19 citation statements)

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“…One example for such a reference can be to link likelihood to the stakeholders' perceptions, such as (see e.g. (Ruge, 2004)):…”

Section: Category Scales In the Risk Matrixmentioning

confidence: 99%

“…• Consistency between the risk matrix and quantitative measures, and, as a consequence, the appropriateness of decisions based on risk matrices (Cox, 2008, Levine, 2012, Flage and Røed, 2012); • The subjective classification of consequence and probability (Cox, 2008, Smith, Siefert et al, 2009, ISO, 2010, Hubbard and Evans, 2010); • The definition of risk scores and its relation to the scaling of the categories (linear or logarithmic) (Levine, 2012, Ni, Chen et al, 2010, Ruge, 2004, Franks andMaddison, 2006, Hubbard andEvans, 2010); • The limited resolution of risk matrices -resulting in "risk ties" (Cox, 2008, Ni, Chen et al, 2010);…”

Section: Review Of Earlier Comments On Risk Matricesmentioning

confidence: 99%

“…An example is described by Ruge (2004). Arguments in favor of corporate standardized risk matrices are the introduction of a unified way of performing risk assessment and aligning terminology and risk acceptance criteria across a company.…”

Section: Corporate Risk Matricesmentioning

confidence: 99%

“…Standardizing corporate risk matrices without detailed instruction or training on how to deal with those subjective issues in very diverse contexts does not necessarily lead to similar outcomes in comparable situations. Ruge (2004) describes two examples of the application of a corporate risk matrix. Both examples address continuous unit operations of comparable size.…”

Section: Corporate Risk Matricesmentioning

confidence: 99%

“…A paper from BASF (Ruge, 2004) documents how a single risk matrix gains the status of a corporate framework, governing risk management decisions throughout an entire company. Although ISO 31010, in its Appendix B29 (2010), advises that risk matrices should be adapted to each area of application, we have observed that several large companies have developed corporate risk matrices to standardize risk decisions throughout their organization.…”

Section: Introductionmentioning

confidence: 99%

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Recommendations on the use and design of risk matrices

2015

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Risk matrices are widely used in risk management. They are a regular feature in various risk management standards and guidelines and are also used as formal corporate risk acceptance criteria. It is only recently, however, that scientific publications have appeared that discuss the weaknesses of the risk matrix. The objective of this paper is to explore these weaknesses, and provide recommendations for the use and design of risk matrices. The paper reviews the few relevant publications and adds some observations of its own in order to emphasize existing recommendations and add some suggestions. The recommendations cover a range of issues, among them: the relation between coloring the risk matrix and the definition of risk and major hazard aversion; the qualitative, subjective assessment of likelihood and consequence; the scaling of the discrete likelihood and consequence categories; and the use of corporate risk matrix standards. Finally, it proposes a probability consequence diagram with continuous scales; providing, in some instances, an alternative to the risk matrix.

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“…One example for such a reference can be to link likelihood to the stakeholders' perceptions, such as (see e.g. (Ruge, 2004)):…”

Section: Category Scales In the Risk Matrixmentioning

confidence: 99%