Risk Matrix
What is Risk Matrix?
A tool used in risk assessment that maps identified risks on a grid based on their likelihood and impact to determine priority levels.
Terms that appear alongside risk matrix
Each of these is named in at least one of the same controls as risk matrix. The number is how many controls name both.
- risk analysis 2 shared controls
- risk committee 2 shared controls
- control effectiveness 2 shared controls
- audit committee 2 shared controls
- iso 31000 2 shared controls
- heat map 2 shared controls
- emerging risk 2 shared controls
- risk register 2 shared controls
Frameworks that govern risk matrix
What the standards actually require on risk matrix
Requirements naming risk matrix across 2 standards, quoted from the control text.
Risk Reporting + KRIs + Performance + Horizon Scanning translate the risk management process into actionable management information.
IRM-Reporting-KRIs-Performance-HorizonScanning-Dashboard-Heatmap-RiskRegister-EmergingRisk · IRM Risk Reporting + Key Risk Indicators (KRIs) + Performance Measurement + Horizon Scanning + Dashboard + Heat Map + Risk Register + Emerging Risk Identification →NIST SP 800-66 Rev 21 control
Combine likelihood and impact determinations to assign a risk level to each threat and vulnerability pairing using a defined risk matrix.
RA-RISK · Risk Analysis: Determine the Level of Risk →Questions people ask about risk matrix
What is Risk Matrix?
A tool used in risk assessment that maps identified risks on a grid based on their likelihood and impact to determine priority levels.
Why is Risk Matrix important for compliance?
Risk Matrix is a key concept in Risk Management. Understanding risk matrix helps organizations meet regulatory requirements, reduce risk, and demonstrate due diligence during audits. Our compliance platform maps 686 frameworks with 311K cross-framework control mappings.
Which compliance frameworks address Risk Matrix?
Risk Matrix appears in the requirement text of IRM Enterprise Risk Management Framework (Institute of Risk Management), NIST SP 800-66 Rev 2. Across these standards we have identified 3 controls that name it directly, each linked to the control text on the compliance platform.
Where can I learn more about Risk Matrix?
Explore our compliance framework pages to see how risk matrix applies across different standards and regulations. Our implementation guides provide step-by-step guidance, and the compliance platform offers AI-powered analysis of how this concept maps across 686 frameworks.
See how Risk Matrix applies across compliance frameworks
Our platform maps 686 frameworks with 311K cross-framework control mappings. Explore how this concept is addressed across standards.
Written and maintained by Gerard Blokdyk, The Art of Service.