This video lays bare the risks inherent in our daily lives and explains how a risk matrix can help you minimize risk. Risk is the possibility of suffering physical, emotional, psychological, and social harm and financial loss. Taking the risk reduction course can manage risk through a risk matrix. Risk can be quantified as a probabilistic event with a measurable probability of occurring and magnitude of effect should it appear.
A risk matrix is a visual representation of how likely something is to happen and how severe the consequences would be if it did occur. A risky decision is one in which there are various possible outcomes, and it’s not clear which result will appear.
Risk results in loss or injury. It’s a factor that can be controlled and avoided but not eliminated. For example, if you decide to go on dangerous adventures, there is a risk of injury or death. However, you can reduce the risk by taking risk reduction lessons, using equipment that’s been adequately maintained, and following safety procedures. For example, someone crossing the street who does not look before is taking a risk because they don’t know what’s coming up on the road.