Improving Risk Matrix Design Using Heatmaps and Accessible Colors

Authors

  • Martin Entacher RiskConsult Austria
  • Philip Sander RiskConsult Austria

Keywords:

Project Risk Management, Risk Matrix, Quantitative Risk Analysis, Heatmap, Color Vision Deficiency, accessible colors

Abstract

Risk management is an integrated part of project management to identify, assess, evaluate and mitigate threats or opportunities that aid or endanger the goals of a project. Risk Matrices are one of the most popular tools to execute a proper risk management process. However, they suffer from shortcomings that can lead to non-meaningful results and oversimplified classification. Cox (2008a) and other researchers have described these shortcomings, Thomas et al.(2013) even proposed to avoid risk matrices in general. This paper presents adaptions that will prevent oversimplified classification, e.g. continuous coloring schemes and viewing risk probability and risk consequence as independent variables. Furthermore, the typical green-yellow-red color scheme is questioned due to its lack of perceptual uniformity and inaccessibility for people with color vision deficiencies. It is proposed that these changes will shaft the area of application from standalone risk analysis tools to supporting tools for quantitative risk analysis which will develop to be the state of the art in project risk management.

Author Biographies

  • Martin Entacher, RiskConsult Austria

    Martin Entacher is Project Manager at RiskConsult where he focuses on supporting owners and contractors of infrastructure projects in the field of cost and risk management, contract management and project controls. He graduated from Vienna University of Technology (MSc) and obtained a PhD in the field of mechanized tunneling at Montanuniversität Leoben. His research is focused on tunnelling and risk management and has led to multiple international publications, patents and research awards. Martin worked as a construction manager in ground engineering and tunneling at Züblin / Strabag before joining the team of RiskConsult.

  • Philip Sander, RiskConsult Austria

    Philip Sander is Managing Director at RiskConsult and SSP BauConsult and has focused for many years on the successful management of large-scale construction projects. He supports owners and contractors in the areas of cost and risk management, construction and organization processes and software development. Philip studied civil engineering at the Technical University of Dresden (MSc) and received his PhD at the University of Innsbruck (Probabilistic Risk Analysis for Construction Projects). He started his professional career at Grinaker LTA in South Africa. After gaining experience at Hochtief in Essen, Germany and at CPM in Stuttgart, Germany, he moved to Tyrol, Austria in 2006 to join the team of SSP BauConsult and RiskConsult.

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Published

2022-05-20

Issue

Vol. 6 No. 1 (2018): The Journal of Modern Project Management

Section

Articles-JMPM

License

Copyright (c) 2022 Martin Entacher, Philip Sander

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

How to Cite

Improving Risk Matrix Design Using Heatmaps and Accessible Colors. (2022). The Journal of Modern Project Management, 6(1). https://journalmodernpm.com/manuscript/index.php/jmpm/article/view/JMPM01604

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