Marginal - 2: Operating conditions may commonly cause minor injury or illness or minor systems damage such that human error, environment, design deficiencies, subsystem or component failure, or procedural deficiencies can be counteracted or controlled without severe injury, illness, or major system damage.Critical - 3: Operating conditions are such that human error, environment, design deficiencies, element, subsystem or component failure, or procedural deficiencies may commonly cause severe injury or illness or major system damage thereby requiring immediate corrective action.Catastrophic - 4: Operating conditions are such that human error, environment, design deficiencies, element, subsystem or component failure, or procedural deficiencies may commonly cause death or major system loss, thereby requiring immediate cessation of the unsafe activity or operation. We guarantee a connection within 30 seconds and a customized solution within 20 minutes.Severity is the amount of damage or harm a hazard could create and it is often ranked on a four point scale as follows: If you want to save hours of research and frustration, try our live Excelchat service! Our Excel Experts are available 24/7 to answer any Excel question you may have. Most of the time, the problem you will need to solve will be more complex than a simple application of a formula or function. We will type the string below into the Cellįigure 6: Result of the Alternative method of applying the Risk Matrix Instant Connection to an Expert through our Excelchat Service.This method is preferred to the ALTERNATIVE METHOD because we can vary the SEVERITY and LIKELIHOOD in Cells D11 and D12 respectively to AUTOMATICALLY get the result. The INDEX function returns the number or value that is present in ROW 3 and COLUMN 2 based on this string: =INDEX(C5:G9,E11,E12) The same scenario applies to determine the severity. For instance, when determining the likelihood in the example, we typed in the string below:ĭ11 is the lookup value, C4:G4 is the range and zero indicates an exact match. The match function matches the lookup value within a specified range and we have set it to return an exact match. =INDEX(C5:G9,MATCH(D12,B5:B9,0),MATCH(D11,C4:G4,0))įigure 4: Determining the Result of the Inputted Data in the Risk Matrixįigure 5: Result of the Inputted Data in the Risk Matrix Explanation We will type the formula below into Cell D13 We will type in this string: =MATCH(D12,B5:B9,0)įigure 3: Determining the Result of the Inputted Data in the Risk Matrix.We will type in this string: =MATCH(D11,C4:G4,0).Cell D11 and D12 will be named as RARE and MODERATE respectivelyįigure 2: Setting up the Risk Matrix Data Determining the Risk.Cell C11, C12, and C13 will be named likelihood, severity, and result respectively.We will input the numbers as shown in figure 2 in the range of C5:G9.We will type the likelihood on the X-axis (Cell C4 to Cell G4). We will type the severity on the Y-axis (Cell B5 to Cell B9).We will set up the risk matrix by doing the following: =INDEX(C5:G9,MATCH(Severity,B5:B9,0),MATCH(Likelihood,C4:G4,0)) Setting up the Data We will walk through the steps below to understand the process.įigure 1: How to Use a Risk Matrix Formula Risk of hazard = likelihood of occurrence (probability) * Severity of harm Hence, the RISK of a hazard is calculated as: In this Matrix, the Y-axis tells us the SEVERITY of the risk involved and the X-axis tells us the LIKELIHOOD of occurrence of the RISK. We can do this with the INDEX and MATCH function. We can apply a risk matrix to a set of data to determine the risk that a hazard poses. Learn from a Risk Matrix Example in Excel
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