Probability and Impact Matrix

The outcome of a probability and impact matrix is an overall risk rating for each of the project's identified risks. The combination of probability and impact results in a classification usually expressed as high, medium, or low. According to the PMBOKĀ® Guide, high risks are considered a red condition, medium risks are considered a yellow condition, and low risks are considered a green condition. This type of ranking is known as an ordinal scale because the values are ordered by rank from high to low. (In practice, ordinal values might also include ranking by position. In other words, the risks are listed in order by rank as the first, the second, the third, and so on.)

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Project Management Made Easy

Project Management Made Easy

What you need to know aboutā€¦ Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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