Probability And Impact Matrix

A tool to help the project team priorities risks is the Probability and Impact Matrix. As you are aware, every project has potential dangers. The project-specific risks could range from double digits to triple digits depending on the project’s size and complexity. But do we even have the resources—let alone the time and cash—to investigate all these risks? NO, we don’t have that kind of luxury of time. Therefore, a method for locating the significant risks that demand the project team’s undivided attention must be developed.