Rewiring the grid: Making the risk assessment matrix work for the energy transition

In this technical paper we explore the application, calibration, and limitations of the risk assessment matrix (RAM) in the design, construction, and operation of energy transition assets such as offshore wind farms, solar farms, and hydrogen facilities.

A RAM provides a structured framework for assessing and prioritising risks by combining likelihood and consequence into a visual representation. Its effectiveness, however, depends on proper calibration – not only to align with regulatory risk tolerability guidelines, such as those outlined by the UK Health and Safety Executive, but also to reflect the organisation’s risk appetite, and the matrix’s intended use cases.

The paper outlines a structured process for calibrating a RAM, including apportioning risk criteria, defining likelihood and consequence categories, and scaling for occupancy, vulnerability, and consequence severity.