Risk matrix: Difference between revisions
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Created page with "'''Abstract:''' '''Risk Matrix ''' or other common name as Probability and Impact matrix is a tool that is used during risk assessment to define the various levels of risk as..." |
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'''Abstract:''' | '''Abstract:''' | ||
'''Risk Matrix ''' or | '''Risk Matrix ''' or also popularly known as the '''Probability and Impact Matrix''' is a tool used during Risk Assessment to define the various levels of risk as the product of the harm probability categories and harm severity categories. | ||
It is a very effective tool that could be used successfully with Project Management to increase awareness and visibility of risks and hence assist management decision making. | |||
Revision as of 09:27, 12 September 2016
Abstract:
Risk Matrix or also popularly known as the Probability and Impact Matrix is a tool used during Risk Assessment to define the various levels of risk as the product of the harm probability categories and harm severity categories.
It is a very effective tool that could be used successfully with Project Management to increase awareness and visibility of risks and hence assist management decision making.