When assessing hazards which elements make up the cross matrix comparison to determine a risk level?

When assessing hazards using a cross matrix comparison, the key elements that contribute to determining a risk level are the likelihood of occurrence and the severity of potential consequences. The matrix typically combines these two factors to categorize risks, often using a scale (e.g., low, medium, high). By evaluating both the probability of an event happening and the impact it would have, organizations can prioritize risks and implement appropriate mitigation strategies. This systematic approach aids in informed decision-making regarding safety and risk management.