04 March 2016

Strategic Management: Risk Matrix (Definitions)

"A graph that compares the likelihood and severity of risks from highest to lowest." (Annetta Cortez & Bob Yehling, "The Complete Idiot's Guide® To Risk Management", 2010)

"A common way to determine whether a risk is considered low, moderate, or high by combining the two dimensions of a risk: its probability of occurrence and its impact on objectives if it occurs." (Cynthia Stackpole, "PMP Certification All-in-One For Dummies", 2011)

"A grid for mapping the probability of each risk occurrence and its impact on project objectives if that risk occurs. " (Project Management Institute, "The Standard for Portfolio Management" 3rd Ed., 2012)

"A graphical representation of impact versus likelihood used to assist in the prioritisation of risks" (David Sutton, "Information Risk Management: A practitioner’s guide", 2014)

[impact matrix:] "A method for assigning values to expected pressures from the macro-environment in order for an organisation to assess the future nature of its context for which it must design an effective strategy." (Duncan Angwin & Stephen Cummings, "The Strategy Pathfinder" 3rd Ed., 2017)

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