The Risk Matrix Table is a simple risk assessment tool that helps you evaluate, prioritise, and manage potential risks. By scoring each risk according to its likelihood and potential impact, you can quickly identify which issues require monitoring, mitigation, or immediate action.
Who is it for?
Ideal for project managers, risk managers, business leaders, consultants, operations teams, and anyone responsible for planning projects, managing uncertainty, or making informed decisions.
How to use it
List your identified risks and assess each one based on its likelihood of occurring and the severity of its impact. Locate each risk on the matrix to determine its overall risk level—from Low to Extreme—and use the results to prioritise mitigation actions, assign responsibilities, and monitor high-priority risks over time.
Workshop suggestions
This template works well during project kick-offs, risk assessment workshops, strategic planning sessions, audits, and change management initiatives. Invite participants to brainstorm potential risks, discuss their likelihood and impact, then work together to prioritise actions and agree on mitigation strategies.
What is the output?
By the end of the exercise, you’ll have a prioritised overview of project or organisational risks, a shared understanding of where attention is needed most, and a clear foundation for developing risk mitigation and management plans.
