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Probability and Impact Matrix

A two-axis chart that places each identified risk based on how likely it is to happen and how much it would affect project objectives if it occurs, allowing risks to be compared and prioritized.

Key Points

  • Plots probability on one axis and impact on the other to visualize risk severity.
  • Used in qualitative risk analysis to categorize and rank risks for response planning.
  • Often uses defined scales (e.g., Low/Medium/High or 1–5) with thresholds and color coding.
  • Customized to organizational risk criteria and helps decide which risks to escalate, treat, monitor, or accept.

Example

The project team lists 30 risks, rates each for likelihood and consequence on a 1–5 scale, and plots them in a 5x5 matrix. Items in the High-High area are prioritized for immediate response planning, Medium items are monitored with triggers, and Low items are placed on a watch list.

PMP Example Question

During qualitative risk analysis, the team uses a 5x5 table that maps likelihood on one axis and consequence on the other to categorize and prioritize risks. What tool are they using?

  1. Probability and Impact Matrix
  2. Risk Breakdown Structure
  3. Risk Register
  4. Sensitivity Analysis (Tornado diagram)

Correct Answer: A — Probability and Impact Matrix

Explanation: The probability and impact matrix maps the likelihood of each risk against its potential effect on project objectives to prioritize response actions.

ICS/OT Incident Response Drills and Exercises

An incident response plan is only a theory until the people who must use it have run it under pressure. This course helps OT engineers, operations leaders, IT responders, and security teams turn a plan on paper into a tested capability.

Define safe states and manual fallback before an incident forces the decision. Build escalation paths, tabletop exercises, and scenarios that expose the gaps a document review cannot find.

Then turn the results into evidence: an after-action report, owned improvements, recovery checks, and a drill cadence that keeps the program alive after the exercise ends.

24 lessons, 2.4 hours. US$47 one-time through HKSM Courses. 30-day money-back guarantee when 50% or less consumed.

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ICS/OT Incident Response Drills and Exercises course preview

Run the drill before the incident runs you

Design, run and prove OT drills and tabletop exercises before an incident tests your team. OT Incident Drills and Exercises includes 24 lessons and practical exercise materials, delivered through HKSM Courses for US$47 one-time. 30-day money-back guarantee when 50% or less of the course has been consumed.

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