Overview
The Risk Matrix is an important feature of many modules. Within this solution, the modules using this feature will draw from a single Risk Matrix template. Details are provided below on the key features and optional changes for your Risk Matrix.
Please note that if you are happy with the Risk Matrix already in the solution, there is no need to change it as it is ready to go.
Risk Matrix Features
The Risk Matrix has the following key components:
Likelihood – Seen along the top horizontal axis
Consequence – Seen along the left vertical axis
Outcome – Seen in the body of the table and at top for reference
Outcome Colour for easy visual reference
Score – Seen at the top for reference and calculated automatically
Axis Names
These can be changed if required. The current axis names are:
Likelihood = Rare, Unlikely, Possible, Likely, Almost Certain
Consequence = Insignificant, Minor, Moderate, Major, Severe
Outcome Names
These names trigger automations and changing the name is not possible without redesign of the system. We can however change the order they appear in the body of the matrix.
The current outcome names are:
Very Low, Low, Moderate, High, Extreme
The current outcomes in the body of the matrix are shown below:
Outcome Colours
These can be changed if required. The current outcome colours are:
Very Low = #a4ede4 (aqua blue)
Low = #74b846 (green)
Moderate = #e6e635 (yellow)
High = #e3ab6b (orange)
Extreme = #e04343 (red)
Score
These can be changed if required. Each Likelihood and Consequence has a score associated with it and is used in a formula to determine the score (Likelihood x Consequence = Score). The current scores associated with each are noted below.
Your Matrix Changes
To assist your Implementation Manager to update your Risk Matrix, please use the table below to update your preferences. Please note that the outcome names are unable to be changed.
**To find the colour you are looking for in Word, use the fill button and then select more colours. Once you have chosen the colour, it will show you the #Hex number and allow you to fill that colour into the table.
