Four quick options are accepting the risk, reducing this risk, sharing the risk, or avoiding the risk altogether. Best practices would dictate performing a cost-benefit analysis, formulating a response strategy, and developing risk response plans. The risk assessment matrix is a living, breathing document that needs to be nurtured and maintained. Risk matrix literature review The risk matrix, originally seen as a simple risk analysis technique, has recently excited controversy with different authors promoting its use and others suggesting it has little value.
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A risk matrix is a matrix that is used during risk assessment to define the level of risk by considering the category of probability or likelihood against the category of consequence severity. This is a simple mechanism to increase visibility of risks and assist management decision making.[1]
Risk is the lack of certainty about the outcome of making a particular choice. Statistically, the level of downside risk can be calculated as the product of the probability that harm occurs (e.g., that an accident happens) multiplied by the severity of that harm (i.e., the average amount of harm or more conservatively the maximum credible amount of harm). In practice, the risk matrix is a useful approach where either the probability or the harm severity cannot be estimated with accuracy and precision.
Although standard risk matrices exist in certain contexts (e.g. US DoD, NASA, ISO),[2][3][4] individual projects and organizations may need to create their own or tailor an existing risk matrix. For example, the harm severity can be categorized as:
The probability of harm occurring might be categorized as 'certain', 'likely', 'possible', 'unlikely' and 'rare'. However it must be considered that very low probabilities may not be very reliable.
The resulting risk matrix could be:
The company or organization then would calculate what levels of risk they can take with different events. This would be done by weighing the risk of an event occurring against the cost to implement safety and the benefit gained from it.
Example matrix[edit]
The following is an example matrix of possible personal injuries, with particular accidents allocated to appropriate cells within the matrix:
Problems[edit]
In his article 'What's Wrong with Risk Matrices?',[5] Tony Cox argues that risk matrices experience several problematic mathematical features making it harder to assess risks. These are:
Thomas, Bratvold, and Bickel[6] demonstrate that risk matrices produce arbitrary risk rankings. Rankings depend upon the design of the risk matrix itself, such as how large the bins are and whether or not one uses an increasing or decreasing scale. In other words, changing the scale can change the answer.
Douglas W. Hubbard and Richard Seiersen take the general research from Cox, Thomas, Bratvold, and Bickel, and provide specific discussion in the realm of cybersecurity risk. They point out that since 61% of cyber security professionals use some form of risk matrix, this can be a serious problem. Hubbard and Seiersen consider these problems in the context of other measured human errors and conclude that 'The errors of the experts are simply further exacerbated by the additional errors introduced by the scales and matrices themselves. We agree with the solution proposed by Thomas et al. There is no need for cybersecurity (or other areas of risk analysis that also use risk matrices) to reinvent well-established quantitative methods used in many equally complex problems.'[7]
References[edit]
Retrieved from 'https://en.wikipedia.org/w/index.php?title=Risk_matrix&oldid=939787845'
Need to create 10 row & 10 column matrix in c#
Mar 21, 2012 01:00 AM|ssjGanesh|LINK
I have a datatable result like,
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SpaceId Name Blocks Rowcount colcount
1 a 2 2 1
2 b 6 3 3
3 c 2 1 1
4 d 4 2 2
I need to create a integer matrix and bind the SpaceId for its row,col value.
For Ex.,
I need to bind all space 1 by one till the datatable records end.....
I need this format.......
First take the 1st row from the table so the values are(spaceId=1, rowcount=2,colcount=1)
then bind the space id in the matrix depends the rowcount,colcount like,
1
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1
and here after filling it we need to give any sample value for filled box,bcoz it useful for identify the non filled box.
then take the 2nd row from the table so the values are(spaceId=2, rowcount=3,colcount=3)
1 2 2 2
1 2 2 2
then take the 3st row from the table so the values are(spaceId=3, rowcount=1,colcount=1)
1 2 2 2 3
1 2 2 2
then take the 4th row from the table so the values are(spaceId=4, rowcount=2,colcount=2)
1 2 2 2 3 4 4
1 2 2 2 - 4 4
- - - - - - - -
- - - - - - - -
before binding value i need to find howmany cells are there with non filled in a particular row.....
I need to create 10/10 matrix and bind values like this,.
So how can i create matrix and bind the above format in c#
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