Risk identification is the first step in the risk management process and involves the qualitative...
risk map
A risk map is a graphical depiction of a select number of a company's risks designed to illustrate the impact or significance of risks on one axis and the likelihood or frequency on the other.
Additional Information
Risk mapping is used to assist in identifying, prioritizing, and quantifying (at a macro level) risks to an organization. This representation often takes the form of a two-dimensional grid with frequency (or likelihood of occurrence) on one axis and severity (or degree of financial impact) on the other axis; the risks that fall in the high-frequency/high-severity quadrant are given priority risk management attention.
Summary
Related Terms
Risk refers to the uncertainty arising from the possible occurrence of given events.
Risk refers to the uncertainty arising from the possible occurrence of given events.
Risk refers to the uncertainty arising from the possible occurrence of given events.
