The NASA Risk Matrix is a tool that is used by the organization to assess and manage risks.
The NASA Risk Matrix is a valuable resource for anyone working in or with NASA, as it allows for quick and accurate risk identification. The matrix is used to help to identify the severity of a risk and the likelihood of it occurring.
The NASA Risk Matrix consists of four quadrants, each representing a different level of risk. The quadrants are labeled as follows:
The NASA Risk Matrix is a great tool when you need to identify the severity of a risk and the likelihood of it occurring. To use the matrix, simply identify the quadrant that best represents the risk in question.
The higher up in the quadrant, the more severe the risk is. For example, a severe risk would be one that is highly likely to occur and would result in significant consequences. A low risk would be one that is unlikely to occur and would result in minimal consequences.
Once the quadrant has been identified, it is then possible to take corrective action to mitigate the risk. For example, if a severe risk is identified, immediate corrective action must be taken to reduce the probability of the risk occurring or to reduce the consequences if the risk does occur. If a low risk is identified, routine monitoring may be all that is required to mitigate the risk.
The NASA Risk Matrix is a valuable resource for identifying risks and taking corrective action to mitigate them. It is important to remember that the matrix is only one tool that can be used when assessing risks. Other factors, such as experience and intuition, should also be considered when making risk management decisions.