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A probability and impact matrix is a grid for mapping the probability of each risk occurrence and its impact on p
of probability and impact that allow individual project risks to be divided into priority groups. Risks can be priori
probability and impacts. The probability of occurrence for each individual project risk is assessed as well as its im
definitions of probability and impact for the project as specified in the risk management plan. Individual project
assessed probability and impact, using a probability and impact matrix.
An organization can assess a risk separately for each objective (e.g., cost, time, and scope) by having a separate
ways to determine one overall priority level for each risk, either by combining assessments for different objective
affected.
rrence and its impact on project objectives if that risk occurs. This matrix specifies combinations
groups. Risks can be prioritized for further analysis and planning of risk responses based on their
s assessed as well as its impact on one or more project objectives if it does occur, using
nt plan. Individual project risks are assigned to a priority level based on the combination of their
ope) by having a separate probability and impact matrix for each. Alternatively, it may develop
ents for different objectives, or by taking the highest priority level regardless of which objective is
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