A Risk Based Matrix is a tool that can be used in risk management to help identify, assess, and prioritize risks. It is a simple way to see all of the risks that your business faces at a glance and helps you to determine which risks are the most important to address.
What should I know about this?
In order to use a Risk-Based Matrix, you will need to have a clear understanding of your business goals and objectives. You will also need to identify the potential risks that could impact your ability to achieve these goals. Once you have identified the risks, you can then begin to assess each one.
When assessing risks, it is important to consider the likelihood of the risk occurring and the potential impact that it could have on your business. The Matrix provides a simple way to see all of this information at a glance.
We hope this information has been useful to you.