On a Risk Assessment Matrix, which two dimensions are used to categorize hazards?

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Multiple Choice

On a Risk Assessment Matrix, which two dimensions are used to categorize hazards?

Explanation:
Hazards in a Risk Assessment Matrix are categorized by how likely they are to occur and how severe the consequences would be if they do occur. This combination lets you place each hazard on a risk scale (low to high) so you can prioritize controls and monitoring. Time and distance don’t measure how likely or how bad a hazard would be; impact on morale is a softer, qualitative effect not the standard numerical consequence used in the matrix; and cost or duration are project attributes rather than the inherent probability and potential impact of a hazard. So, likelihood and severity are the dimensions used.

Hazards in a Risk Assessment Matrix are categorized by how likely they are to occur and how severe the consequences would be if they do occur. This combination lets you place each hazard on a risk scale (low to high) so you can prioritize controls and monitoring. Time and distance don’t measure how likely or how bad a hazard would be; impact on morale is a softer, qualitative effect not the standard numerical consequence used in the matrix; and cost or duration are project attributes rather than the inherent probability and potential impact of a hazard. So, likelihood and severity are the dimensions used.

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