The risk matrix provides a graphic representation of the relationship between magnitude of a negative consequence, likelihood of an event occurring and the resulting risk level of harm to individuals and the community. Each cell in the matrix represents a unique pairing of consequence and likelihood and, therefore, a risk level.
For example, the risk matrix indicates the more likely the event and the higher the consequence, then this is reflected in a higher risk category. If the likelihood of an event is rare, unlikely, possible, likely or almost certain, but the consequence considered insignificant, then the resulting risk category level is low. If the likelihood of an event is likely or almost certain and the consequence is major or extreme, then the resulting risk level category is high to extreme.
If likelihood is rare and consequence is insignificant, minor, moderate, major or extreme, risk is low (green).
