What is a risk matrix in project management?
An example of an AI chatbot conversation about using a risk matrix in project management.
What is a risk matrix in project management?
A risk matrix is a tool used to assess and prioritize risks based on their likelihood and impact.
How do I create a risk matrix?
To create a risk matrix, identify risks, assess their likelihood and impact, and plot them on a grid.
Can you give me an example of a risk matrix?
Sure! A simple risk matrix might have a 5x5 grid with likelihood on one axis and impact on the other.
What are the benefits of using a risk matrix?
Using a risk matrix helps in visualizing risks, prioritizing them, and making informed decisions in project management.
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