Risk Assessment Matrix Template Likelihood vs Severity diagram. This is one of the top business frameworks helping clients improve on their approach to strategy, project management, IT, HR, internal processes and client experience.

Severity: The impact of a risk and the negative consequences that would result. Likelihood: The probability of the risk occurring. To place a risk in the risk assessment matrix, assign a rating to its severity and likelihood. Then plot it in the appropriate position in your chart,…

Likelihood: The probability of the risk occurring. To place a risk in the risk assessment matrix, assign a rating to its severity and likelihood. Then plot it in the appropriate position in your chart, or denote the rating in your table. The typical classifications used are:

The consequence of the risk can be: The risk assessment matrix is made in a form of a table where risks are grouped based on its likelihood and severity of consequence; colours are used to segment the table. The table is generally segmented into four (4) colours – Green, yellow, orange and Red.

## Risk Assessment Matrix Template Likelihood vs Severity