Risk Matrix

A risk matrix is a visual framework that plots identified risks along two axes, typically probability and impact, to prioritize which threats require immediate attention. Project managers use risk matrices to systematically evaluate and categorize risks during project planning and execution, enabling teams to allocate mitigation resources to the highest priority items. This tool supports decision making about risk tolerance, contingency planning, and resource allocation in product and program management.

Risk Matrix sits under Project Management Methods and Tools in the Product & Program Management domain of the Luminid skills catalogue.

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