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-To successfully implement a project, you must identify and focus your attention on middle and high-priority risks – otherwise you risk spreading your efforts too thinly, and you'll waste resources on unnecessary risk management. With the Risk Impact/Probability Chart, you map out each risk – and its position determines its priority. High-probability/high-impact risks are the most critical, and you should put a great deal of effort into managing these. The low-probability/high-impact risks and high-probability/low-impact risks are next in priority, though you may want to adopt different strategies for each. Low-probability/low-impact risks can often be ignored.
Injury or loss of human life are part of an organization's resources. Both have an impact in the company's operations. Depending on the organization's priority, injury or loss of human life are usually high priority risk which would incur financial loss and will also affect reputational risk.
