Risk matrix for qualitative judgments

Risk Matrix is the most widespread tool used in process industries for risk evaluation. It is mainly used to determine the magnitude of a risk and hence determine whether or not the risk is sufificiently controlled. The severity and likelihood of an unwanted event will 

Severity / Z Likelihood Societal fatal risk/Community evacuation/ Shelter in place (1) Risk of fatality onsite/Fire and explosion resulting 25 K US damages [API RP 754], Release of materials higher than CCPS Tier 1 threshold quantities (2) Serious injury to employees/ Contractors, business reputation issues/ Serious environmental impact (3) 

HIGH (H) Possible (more frequent than 1 incident every 100 years) HD HI H2  

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