Risk Matrix Calculations – Severity, Probability, and Risk Assessment industrysafe.com Probability -the likelihood of the hazard occurring Frequency 5. Likely to occur often in the life of an item. Probable 4. Will occur several times in the life of an item. Occasional 3. Likely to occur some time in the life of an item. Remote 2. Unlikely but possible to occur in the life of an item. Improbable 1. So unlikely, it can be assumed occurrence may not be experienced. 02 Hazard Status by Risk industrysafe.com Risk Assessment Multiply the scores of probablity and severity together Severity Probability Catastrophic- 4 Critical - 3 Marginal - 2 Negligible- 1 Frequent - 5 High - 20 High - 15 High - 10 Medium- 5 Probable - 4 High - 16 High - 12 Serious- 8 Medium- 4 Occaisonal - 3 High - 12 Serious- 9 Medium- 6 Low- 3 Remote -2 Serious- 8 Medium- 6 Medium- 4 Low- 2 Low- 3 Low- 2 Low- 1 Improbable- 1 03 Medium- 4 industrysafe.com About IndustrySafe IndustrySafe is a cost-effective, web-based (SaaS) safety management software developed so that organizations can track, manage, and comply with environmental, health, and safety regulations. IndustrySafe Safety Software, a Vector Solutions brand, enables our clients, leaders in construction, manufacturing, government, energy, and transportation to report and analyze risk for incidents, inspections, observations, and more. Our mission is to provide the most user friendly and cost effective environmental, health, and safety software for our clients. Contact Us IndustrySafe Safety Management Software [email protected] 215-546-9110 04
