A probability and impact matrix is a grid for mapping the probability and impact of each risk on project objectives. We can use it to prioritize risks, distinguish between minor and major risks ...

Plot Risks on the Matrix: Using the probability and impact ratings, plot each risk on a 5×5 grid. High-probability, high-impact risks should be positioned in the upper-right corner, indicating the ...

By plotting the risks on the matrix, you can see at a glance which ones require more attention and action. ... Then, plot the risks on the matrix using the probability and impact ratings.