Which two factors are typically assessed in a simple risk matrix?

Which two factors are typically assessed in a simple risk matrix?

• A. Likelihood And Severity
• B. Cost And Impact
• C. Frequency And Duration
• D. Number Of Workers

Answer: (A)

A simple risk matrix evaluates risk by combining two factors: how likely the hazard is to occur and how severe the harm would be if it does. Likelihood is the chance of the event happening, while severity is the seriousness of the potential injury or damage. When you plot these together, you get a risk rating (like low, medium, or high) that helps determine which controls are needed. That’s why likelihood and severity are the best fit for the two factors in a basic risk matrix. Cost and Impact focuses on financial effects rather than safety risk levels. Frequency and Duration describe exposure patterns but don’t directly define how severe the outcome could be. Number of Workers influences exposure scale but isn’t a primary axis in a simple risk matrix.

A simple risk matrix evaluates risk by combining two factors: how likely the hazard is to occur and how severe the harm would be if it does. Likelihood is the chance of the event happening, while severity is the seriousness of the potential injury or damage. When you plot these together, you get a risk rating (like low, medium, or high) that helps determine which controls are needed. That’s why likelihood and severity are the best fit for the two factors in a basic risk matrix.

Cost and Impact focuses on financial effects rather than safety risk levels. Frequency and Duration describe exposure patterns but don’t directly define how severe the outcome could be. Number of Workers influences exposure scale but isn’t a primary axis in a simple risk matrix.