From the course: Construction Management: Managing Risk
Join today to access over 24,900 courses taught by industry experts.
The risk analysis matrix
From the course: Construction Management: Managing Risk
The risk analysis matrix
- Analyzing risk really involves looking at a task, identifying the risks, and then looking at two factors for each of those identified items. One factor is, what will happen if the identified risk event actually occurs? Will it be catastrophic? Could it result in serious injury or a fatality, property damage? How about damage or injury to a third party, someone just walking by the job site? The other factor is, how likely or probable is it that the risk event will occur? This might require some thought and maybe even some qualifiers. I'll give you an example. I might have a project in my area with an excavation that could fill with water and cause all kinds of issues if it received lots of rain. In my area, though, unless it's the time of year we call monsoon season, the likelihood of that much rain is extremely low. On the other hand, during monsoon season, that likelihood goes way up, so I'll need to qualify…
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.