Risk matrix
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A risk matrix is a visual guide for prioritising items which have been entered on a risk register.
Items on the risk register that are highly likely to have a significant impact on your business would appear in the red section of the risk matrix - making them high priority items.
Conversely, items that would only have a small impact on your business and are unlikely to affect your business at all would appear in the green section of the matrix - showing that they are low priority items.
All other items would be deemed important enough to require monitoring.