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Low-Impact-High-Probability (LIHP)
An event that is very likely to occur -- it has a low Probability of Failure (PoF) -- and it will not have significant Consequences of Failure (CoF) for the organization.

LIHP risks are recorded on the risk register and appear in the top left-hand quadrant of the risk matrix.

Risk-based decision making is at the heart of asset management and this requires mindful consideration of the relationship between the probability of failure (PoF) and the consequences of failure (CoF). The complexities of these correlations can sometimes be captured on a risk matrix.
Fig. Risk-based decision making is at the heart of asset management and this requires mindful consideration of the relationship between the probability of failure (PoF) and the consequences of failure (CoF). The complexities of these correlations can sometimes be captured on a risk matrix.

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