Better Risk Management

Abstract

Greg and Fred discuss risk management tools specifically the advantages and disadvantages of using color -coded risk matrices.

Key Points

Join Greg and Fred as they discuss how risk matrices can be used effectively and graphically to communicate the likelihood and severity of risks.  Risk matrices are inherently not precise and accurate.  However, they are a useful  heuristic decision making tool

Topics  include:

• What are risk matrices.
• How and where should risk matrices be used for decision making.
• Why are risk matrices an important heuristic tool.
• What are the advantages and disadvantages of the risk tool.

Enjoy an episode of Speaking of Reliability. Where you can join friends as they discuss reliability topics. Join us as we discuss topics ranging from design for reliability techniques to field data analysis approaches.

Show Notes

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