Use the risk matrix as a conversation
Use risk rating to surface assumptions, controls, and decision ownership.
The move: use the risk color to ask better questions, not to end the discussion. ISO 31000 treats risk management as an ongoing process of context, identification, analysis, evaluation, treatment, communication, monitoring, and review. In operations, that means a risk matrix should connect the hazard to the controls and the decision owner. If the team cannot explain why a scenario landed in a cell, the cell is decoration. A useful rating statement has three parts. First, the credible consequence: what could happen if the scenario escalates? Second, the likelihood basis: what evidence says this is rare, possible, or likely? Third,…
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