What is a risk assessment matrix?
An example of an AI chatbot conversation about a risk assessment matrix.
What is a risk assessment matrix?
A risk assessment matrix is a tool used to evaluate and prioritize risks based on their likelihood and impact.
How do I create one?
To create a risk assessment matrix, list potential risks, assess their likelihood and impact, and plot them on a grid.
Can you give me an example?
Sure! For instance, if a risk has a high likelihood but low impact, it would be placed in a specific quadrant of the matrix.
What are the benefits of using a risk assessment matrix?
It helps in visualizing risks, prioritizing them effectively, and making informed decisions to mitigate them.
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