Risk Assessment Matrix

[rɪsk əˈsesmənt ˈmeɪtrɪks]

A risk assessment matrix is a visual tool that organizations use to determine levels of risk that the organization faces, the severity and overall likelihood; even though there are still limitations to risk matrices, there are still various benefits of using this tool. 

A risk assessment matrix follows a certain basic structure which are grids or tables that show the likelihood of risk along with the severity of the consequences; the risks that an organization could face are placed within the risk matrix; this will depend on where they fall on this scale.

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Use in a sentence:
Utilising a risk assessment matrix will help our organization.
Risk Assessment Matrix