Risk matrix: Difference between revisions
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'''Abstract:''' | '''Abstract:''' | ||
'''Risk Matrix ''' | '''Risk Matrix ''', 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. | 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 09:28, 12 September 2016
Abstract:
Risk Matrix , 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.