Examining the Probability and Impact Risk Rating Matrix
The Probability and impact risk rating matrix is a graph showing the assignment of risk rating to risks or conditions.
The matrix combines the probability and impact scales to prioritize and identify risks that are likely to require further analysis.
Risk Rating is calculating by multiplying the risk’s impact score by its probability score. It may include risk thresholds by applying shading, colour or line variations.
The probability and impact matrix rating will response plans guide the response plans.
The sample probability and impact matrix will show the shading of colours which indicates the level of probability and impact. It can be used to assess very complicated risks with many factors and data points.
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