How to: create a risk matrix

Create your own risk matrix based on custom impact and probability levels. Evaluate risks across different domains: finance, image, customer loyalty,… The risk matrix is an effective tool that assists you in consistent risk evaluation by always considering the probability and the impact level.

Navigation

1. Go My Organization > Risk Strategy

Define your Impact Levels

1. Click “Impact levels”
2. Click “Edit”
3. Click on the “+” sign to add a new impact level or to add a new column
4. Fill out the description field
5. Add and/or fill out the domain fields e.g. financial risk, reputational,…
6. Click “Save”

Define your Probability Levels

1. Click “Probability levels”
2. Click “Edit”
3. Click on the orange “+” sign to add a new probability level or on the green “+” sign to add a new column
4. Fill out the description field
5. Create the probability by defining the maximum% chance to occur within a defined period: Day(s)Month(s)Week(s)Year(s)
6. Click “Save”

Define your Risk Levels

1. Click “Risk levels”
2. Click “Edit”
3. Click on the “+” sign to add a new impact level
4. Add a color to a level by using the color picker or proving a HEX, RGB, HSL or CMYK color code.
5. Provide a risk level name
6. Define a minimum and maximum score for each risk
7. Click “Save”

You have now created your risk matrix!