Risk matrix
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| − | '''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. |
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| + | 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 10:27, 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.
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