Folio has an Enterprise Risk Matrix which is used in Risk Registers. It also has a Field Type called Matrix which can be similar to the Enterprise Risk Matrix but does not have to be. Here are a few tips to understand when to use the Enterprise Risk Matrix or the Matrix Field.
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Risk Matrix |
Matrix Field |
|---|---|---|
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What are they? |
Risk Matrix is a feature in Folio that enables you to create a risk matrix that calculates a Risk Rating or Inherent and Residual Risk. |
The Matrix Field is a Field Type in Folio that enables you to determine the answer in a matrix field based on the combination of answers in two other single select fields. |
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Uses |
Strategic Risk Register Operational Risk Register Hazard Register And more |
Activity Risk Assessments Venue Risk Assessments Equipment Risk Assessments Project Risk Assessments And more |
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Risk Reviews |
Yes |
No |
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A snapshot of the risk at a point in time |
Yes |
No |
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Can be used on Folio Templates |
Yes |
Yes |
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Can be used in a Table |
No |
Yes |
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Can be used on Checklists, Actions, Documents |
No |
No |