Risk Heat Map

Erin Beel

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1.7K

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Also known as a Probability and Impact Matrix, the Risk Heat map represents the urgency of risk response planning in 'traffic light' colours, which allow teams to visualise and prioritise risks that need urgent mitigation.

For a quick introduction, visit: Probability And Impact Matrix.

For in-depth information, visit: Risk analysis and management a vital key to effective project management

Credits: The origin and original creator of the Risk Heat Map republished here is not known. Please reach out if you know the creator as I would like to credit them.

Erin Beel

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A risk matrix--also known as a probability matrix, risk assessment matrix, or impact matrix--is a tool that allows you to evaluate overall risk by visualizing potential risks in a diagram. The tool allows you to weigh the severity of a potential risk against the probability that the risk might occur. Risk matrices are useful for risk management because they visually represent the risks involved in a decision. This empowers you to avoid worst-case scenarios by preparing contingencies or mitigation plans.

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