riskmatrix
A risk matrix is a visual tool used to assess and prioritize risks based on their likelihood and impact. It typically consists of a grid with two axes: one representing the likelihood of a risk occurring, and the other representing the impact if it does occur. The grid is divided into quadrants, each representing a different level of risk. The most common quadrants are:
1. High Impact, High Likelihood: These are critical risks that require immediate attention and mitigation.
2. High Impact, Low Likelihood: These risks have significant consequences but are less likely to occur. They
3. Low Impact, High Likelihood: These risks are frequent but have minimal consequences. They may be accepted
4. Low Impact, Low Likelihood: These risks are both infrequent and have minimal consequences. They can often
The risk matrix is a useful tool for risk management, helping organizations to identify, evaluate, and prioritize