Limitations of Risk Assessment Using Risk Matrices

  • Louis Anthony CoxJr
Part of the International Series in Operations Research & Management Science book series (ISOR, volume 129)

This chapter focuses on the use and abuse of risk matrices – tables mapping “frequency” and “severity” ratings to corresponding risk priority levels. Such matrices have become very popular in applications as diverse as terrorism risk analysis, highway construction project management, office building risk analysis, climate change risk management, and enterprise risk management (ERM). Their use is now so widespread in important applications that it is worth devoting an entire chapter to understanding the main concepts – and limitations – of risk matrices as a framework for practical risk analysis.


Risk Management Risk Aversion Risk Attitude Priority Level Green Cell 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Copyright information

© Springer Science+Business Media, LLC 2009

Authors and Affiliations

  1. 1.Cox AssociatesDenverUSA

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