The last two limitations listed above strongly affect the quality of decisions made by company management. They can be surpassed by developing a highly detailed risk assessment scale and by using risk measurement methods effectively. However, companies tend to develop risk
matrices based on subjective judgements due to limited time and human resources (which is a quite common situation).Obviously, standards and best practices in risk management
do not suggest tools and methods to decrease subjectivity of decisions made during risk assessment. Nevertheless, such tools are well known in decision theory that
offers a reasonable approach to decision-making under uncertainty,when the result depends solely on the preferences