Risk Matrix

The Risk Matrix interface allows users to visualize and assess risks based on their likelihood and impact. It is used to log and determine the severity of various risks and helps prioritize risk mitigation strategies. The key components of this section are:

Select Matrix Type:

• This feature allows users to select the size of the matrix grid based on the complexity of their risk analysis. The available options are:

  • 3x3 (default)

  • 4x4

  • 5x5

• Users can select the matrix type from the dropdown menu and click the Update button to apply the selected configuration. The matrix will adjust accordingly to reflect the chosen grid size.

Risk Matrix Display:

• The matrix is displayed as a color-coded grid that categorizes risks based on their Impact (y-axis) and Likelihood (x-axis):

  • Impact ranges from Low to High, while

  • Likelihood ranges from Rare to Likely.

• Each cell within the matrix represents a combination of impact and likelihood, color-coded to reflect the risk level:

  • Green: Low risk

  • Orange/Yellow: Medium risk

  • Red: High risk

Risk Categories:

• Users can manually adjust the risk levels (e.g., Low, Medium, High) for each combination of impact and likelihood by using the dropdowns in each matrix cell. This enables customization based on the organization’s risk tolerance and specific scenarios.