Use the Risk Matrix to
define the risk levels of an event, then assess and compare these risks by considering their
impact and likelihood.
The Risk Matrix
answers the following questions.
What are the risks of this
event?
How severe are the risks?
What is the likelihood that these risks impact the event?
Which risks should you address first?
How-to
In the Impact section of the matrix, define the impact for each risk level (rows) in
terms of the criteria (columns). You can change the levels of risk by
changing the row labels in this section.
In the Likelihood section of the matrix, add specific risks to the red, orange, yellow, and
green cells according to their level of impact and likelihood. You can
change the levels of likelihood by changing the column labels in this
section.
