Risk Matrix

Specify Risk Values to Determine an Overall Risk Rank

About This Task

You can use the Risk Assessment window to select values in various categories that will be used to

determine an overall risk rank.

Note: These steps assume that you want to specify a risk value on each tab of the Risk Matrix. You can,

however, 

specify that a risk category does not apply to the current risk

.

Procedure

1. In GE Digital APM, access the Risk Assessment window.

Tip: Refer to a specific module's documentation for details on how to access this window.

2. In each tab that contains a risk matrix, select the cell whose value represents the risk for that

category.

An icon appears in the selected cell. The way in which you accessed the Risk Assessment window

determines the icon that appears in the cell.

• If you are defining unmitigated risk (for example, for a Risk in Asset Strategy Management), the 

icon will appear.

• If you are defining mitigated risk (for example, for an Action in Asset Strategy Management), the

 icon will appear.

Note: When defining mitigated risk, you cannot select a value with a higher probability or

consequence than the value that is already represented by the 

 icon. For example, suppose the

 icon appears in the cell at the intersection of the Probable probability (1) and Low consequence

(10). In this case, using the 

 icon, you could not select a value with a probability greater than 1 or a

consequence greater than 10.

3. Select the Financial tab, if applicable.

4. In each list or box on the Financial tab, select or enter the necessary value.

The values that you type in the Production Loss and Maintenance Cost boxes will be added

together to determine the overall consequence, which is displayed in the Consequence box.