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How does a qualitative risk analysis matrix (in project management) look like? How can i create it? A template/example would be perfect.

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asked 8 years ago by anonymous

1 Answer

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A qualitative risk analysis matrix has two dimensions -- one for the likelihood of the risk and the other for the severity if the risk happens.  Typically each likelihood and severity is given a value (1-5 for a matrix with 25 cells; sometimes actually probability and $ are used) and the product of the likelihood and severity is recorded in the cell.  These can also be color coded and diagonal bands will form.  Green for the least likely, lowest severity risks and red for high likelihood, high impact risks.  The project manager needs to focus on the high likelihood risks as though they were assumptions and the high severity risks which could be devastating to the project.  SmartDraw, a great tool for drawing and templates includes a template at: http://www.smartdraw.com/examples/view/qualitative+risk+analysis+matrix/.
answered 8 years ago by sdcapmp (45,840 points)

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