Risk Assessment Matrix

Description

Participants use the risk assessment matrix to assess in a proper way the risks associated with a certain project. They take into consideration two key aspects: the probability of occurrence and impact on the project. The position of the risks on this matrix draws attention to the severity of the risk. Thus, the mitigation approaches reveal themselves in a more structured way.

Flow

Introduction

• Introduce the activity to the participants and split them into teams.
• Each team will name a team coordinator to facilitate the discussion in the breakout room. In the end, they will present the outcome to the other teams. The team coordinators can rely on the ideas written within the predefined template.
• Provide the activity link to each team.

Work

• Participants brainstorm and write down on sticky notes as many of the risks associated with a certain project as possible.  
• During the second part of this activity, participants transfer the notes from the brainstorming wall to the next board. They place them in the appropriate cell of the risk matrix. They do this by estimating the probability of occurrence and impact of each risk. For this, they use a 3-level scale: low, medium, and high. Participants consider the 2 coordinates to place the notes on the matrix. For example, low probability and high impact goes to the right low cell of the grid.

Debrief (suggested)

• The team coordinator from each team will present the outcome to the other teams.
• The facilitator may ask the following questions:
  • What did you discover during this activity?
  • What challenges did you face during this activity? How did you overcome them?
  • How did you reach consensus within the team regarding the degree of probability/impact of a risk?
  • Are the risks placed in the red zone surprising to you? Why?

Variations

n/a

Additional info

This activity follows activity type guide from CARTA

Play in Colltrain

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