Risk Assessment Matrix Template


The Risk Assessment Matrix Template is a critical tool for evaluating and prioritizing risks based on their likelihood and potential impact.

This matrix is a visual aid that helps professionals across various industries in making informed decisions about risk management strategies.

It simplifies the risk assessment process, allowing for a clear understanding of which risks require immediate attention and resources.

Risk Assessment Matrix Template

Date: ___________

Prepared by: ___________

Section 1: Risk Identification

Risk Category:

[  ] Natural

[  ] Technological

[  ] Human

[  ] Financial

[  ] Operational

[  ] Strategic

[  ] Compliance

[  ] Other: ___________

Risk Description:

Describe the potential risk: ___________

Potential Triggers:

Identify factors or events that might cause the risk: ___________

Section 2: Risk Analysis

  • Likelihood of Occurrence:
    • Low
    • Medium
    • High
  • Potential Impact:
    • Low
    • Medium
    • High
  • Vulnerability Assessment:
    • Evaluate how vulnerable the business is to this risk: ___________

Section 3: Risk Evaluation

  • Overall Risk Rating:
    • Low
    • Moderate
    • High
    • Severe
  • Priority for Action:
    • Rank the risk in terms of addressing urgency: ___________

Section 4: Risk Mitigation Strategies

  • Preventive Actions:
    • Actions to prevent the risk from occurring: ___________
  • Mitigation Actions:
    • Actions to minimize impact if the risk occurs: ___________
  • Contingency Plans:
    • Backup plans if primary strategies fail: ___________

Section 5: Monitoring and Review

  • Monitoring Frequency:
    • How often to review the risk and strategies: ___________
  • Responsible Person:
    • Individual responsible for monitoring and managing the risk: ___________
  • Review Date:
    • Next scheduled review date: ___________

Section 6: Notes and Observations

  • Additional notes or specific considerations: ___________

Appendix: Definitions and Guidelines

  • Include any relevant definitions or guidelines here: ___________

Signature of Preparer: ___________

Date: ___________


The Risk Assessment Matrix Template is an invaluable resource for methodically evaluating and addressing risks.

By providing a structured and visual approach to risk prioritization, it enhances the effectiveness of risk management processes.

Regular application and review of this matrix are essential in adapting to changing circumstances and maintaining a robust risk management strategy.

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