- Making Safety Simpler
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2.5 Other Risk Matrices
A 5x5 risk matrix offers a more nuanced approach to risk assessment by providing additional levels of likelihood and severity. Below is an example tailored for the construction industry:
| Very High Likelihood | High Likelihood | Medium Likelihood | Low Likelihood | Very Low Likelihood | |
|---|---|---|---|---|---|
| Very High Severity | Extreme Risk | Extreme Risk | Very High Risk | High Risk | Medium Risk |
| High Severity | Extreme Risk | Very High Risk | High Risk | Medium Risk | Low Risk |
| Medium Severity | Very High Risk | High Risk | Medium Risk | Low Risk | Negligible Risk |
| Low Severity | High Risk | Medium Risk | Low Risk | Negligible Risk | Negligible Risk |
| Very Low Severity | Medium Risk | Low Risk | Negligible Risk | Negligible Risk | Negligible Risk |
Likelihood
- Very High Likelihood: Almost certain to occur, possibly multiple times, in the immediate future.
- High Likelihood: Likely to occur in the short term.
- Medium Likelihood: May occur during the lifespan of the project.
- Low Likelihood: Unlikely but possible to occur during the project.
- Very Low Likelihood: Extremely unlikely to occur but not impossible.
Severity
- Very High Severity: Could result in multiple fatalities, complete loss of facility or asset, or catastrophic financial loss.
- High Severity: Could result in a fatality, significant property damage, or severe financial loss.
- Medium Severity: Could result in significant injuries requiring medical treatment, moderate property damage, or moderate financial loss.
- Low Severity: Could result in minor injuries treatable with first aid, minor property damage, or minimal financial loss.
- Very Low Severity: No injuries, negligible property damage, and negligible financial loss.
Risk Levels
- Extreme Risk: Immediate action required. Cease all related activities until the risk is mitigated.
- Very High Risk: Urgent action required. Implement immediate controls and mitigation strategies.
- High Risk: Requires prompt attention. Develop and implement mitigation plans.
- Medium Risk: Requires attention but less urgent. Plan for mitigation in the near future.
- Low Risk: Monitor the situation. No immediate action is required, but be prepared to act if the situation changes.
- Negligible Risk: Continue to monitor. No action is required.
No matter the risk matrix your company chooses, it is essential that all team members understand how to use it effectively and consistently for assessing and managing risks on the construction site. This ensures a unified approach to safety, making it easier to identify, prioritize, and mitigate hazards.