AutoSave On Assignment cum Project support forms. Saved Search (Alt+a) Rahaf Al-shamani RA File Home Insert Draw Design Layout References Mailings Review View Help Comments Share 2 Arial MT A A A A :- + T 21 1 Normal ID Paste Body Text List Paragraph O Find Replace Select Editing Sensitivity B ! | + | x x 40 X, X APA Dictate Editor Reusc Files Undo Clipboard Font Paragraph 5 Styles voice Sensitivity Editor Reuse Hes PROBABILITY AND IMPACT MATRIX Project Tille. The green bin Dale Prepar. 23/2/2002 0 Very Low LOW Medium High Very High Page 1 of 1 Page 13 of 242 37609 word: EX Engish (United States Accessibility investigate D. FOCUS BE E 1039 ENG 09 8:48 PM 3/2/2022 AutoSave On Assignment cum Project support forms. Saved Search (Alt+a) Rahaf Al-shamani RA File Home Insert Draw Design Layout References Mailings Review View Help Comments Share 2 Arial MT A A A A + T 21 1 Normal ID Paste Body Text List Paragraph Find Replace Select Editing Sensitivity B ! | + | x x 40 X, X APA Dictate Editor Reusc Files Undo Clipboard Font Paragraph voice Sensitivity Editor Reuse Hes Styles Planning Forms 2.34 PROBABILITY AND IMPACT MATRIX The Probability and Impact Matrix is a grid for mapping the probability of each risk occurrence and its impact on project objectives if that risk occurs. The probability and Impact Assessment determines the probability and impact of the risk. It may be constructed for threats and opportunities. This matrix provides a helpful way to view the various risks on the project and prioritize them for responses. It also provides an overview of the amount of risk on the project. The project team can get an idea of the overall project risk by seeing the number of risks in each square of the matrix. The organizations overall risk tolerance is usually indicated by the shading or range of cells within the matrix. For example an organization with a low risk threshold may rank events that fall in the very high or high range for both impact and probability as high risk. An organization with a higher risk threshold may only rank risk with a very high probability and impact as thigh risk. The organization may use the relative risk rankings to specify what type risk response should be taken. For example, the organization may specify an avoidance strategy for all threats that are ranked as high risks. A project with many risks in the dark gray zone will need more contingency to absorb the risk and likely more time and budget to develop and implement risk responses. In some situations a decision is made not to pursue a project because there is more risk than the organization is willing to absorb. A sample Probability and Impact Matrix follows. The needs of your project will determine the exact layout of the matrix. The Probability and Impact Matrix can receive information from: Probability and Impact Risk Assessment Risk Register It provides information to the Risk Register. The Probability and Impact Matrix is a tool used in 11.3 Perform Qualitative Risk Analysis in the PMBOK Gude-Fifth Edition. OneDrive X Screenshot seved The screenshot was added to your OneDrive Page 135 of 242 37609 word: EX Engish (United States Accessibility investigate LA FOCUS 19 ENG 0 8:48 PM 3/2/2022