The Project Management Tool Kit: 100 Tips and Techniques for Getting the Job Done Right

Assessment

Risk assessment tables begin with the risk register list and determine overall risk for each potential problem by combining the probability and impact assessments. This may be done by simply combining the range categories, or by assigning numeric values to the categories (such as 9, 3, and 1 for High, Moderate, and Low) and multiplying the factors together.

A similar qualitative assessment method uses a risk assessment matrix to place risks in a two-dimensional grid. Categories of probability and impact define where in the matrix each potential exposure falls, with the most severe toward the top and the right. Again, any number of categories may be used, defined as appropriate for your project, and risk assessment matrices do not ...