Benefits - Simple and easy to

understand - Creates relationship between the likelihood and severity of the risk

- Can put risks in order of severity, highlighting which problems need most attention- Have clear guidance on applicability

Limitations - Impossible to explicitly specify all conditions - Inconsistent interpretation and classification of events- Difficult to identify common mode failures, system interactions, cascaded failures,complex situation etc.- Cannot suggest alternatives in same risk class

Benefits - Displays relationships between potential causes and effects - Shows all causes simultaneously - Great tool to present the problems to stakeholders - No special equipment needed

Limitations - Typically opinion based - Creates diversion by speculating potential causes rather than solving the problem - Causes identified requires verification

- Tool does not indicate severity of problem

Benefits- Provides consistency using a quick and easy framework

Including all necessary elements to assess, treat and manage risks at the same level of quality

- Compact and efficient format- Communicates clearly with project team and stakeholders about project risks and how they will be managed- Provides qualitative data as well as probability scales

Limitations- Assessments can be incorrect

-Detailed descriptions can waste time- Level of uncertainty if risks are poorly applied

-It can be very opinion orientated

Also known as an Ishikawa diagram, it is a visualisation tool for categorising the potential causes of a problem in order to identify its root causes.

A matrix that is used during risk assessment to define the various levels of risk as the product of the harm probability categories and harm severity categories. A simple mechanism to increase visibility of risks and assist management decision making.

A tool commonly used in risk management and compliance. It acts as a central repository for all risks identified. Each risk includes information such as description and consequences, probability, impact, decision difficulty and mitigation.

We believe this is the most suitable tool to use during MMU Enigma Events. It ensures clarity, consistency and communicates well with all the necessary stakeholders. Providing both qualitative and quantitative data for the risk assessment.