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Article | REF: C8109 V1

Criticism of the consequence

Authors: Francis CLAUDE, Sébastien NOUET

Publication date: October 10, 2016

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4. Conclusion

This article looks at the need to re-evaluate ISO 31010 method no. 29 as a method which, according to ISO, is perfectly applicable for risk identification and analysis, and applicable for risk assessment.

Consequence – probability matrices, or risk matrices, have serious drawbacks in terms of risk identification, analysis and evaluation. In terms of risk assessment, what it represents in terms of importance to the organization relative to others, this step is completely independent of the risk profile under consideration and the attitude to risk of the organization and/or its managers and their teams. In terms of resource allocation for risk treatment, COX discusses sub-optimal allocation. Indeed, the latter cannot be uniquely defined. However, sub-optimality remains a strong concept because, ultimately, the company allocates resources to events that have a zero...

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