Likelihood and Impact Matrix

A Likelihood and Impact Matrix is a tool used to assess risks by evaluating how likely a problem is to occur (likelihood) and how severe its consequences would be (impact). It helps prioritize risks based on their potential to cause harm or disruption. For example, a high likelihood with high impact would be a top priority to address, while a low likelihood with minimal impact might be less urgent. This visual method guides decision-making by focusing resources on the most significant risks.