Risk Assessment Matrix

A risk assessment activity that brings more precision and shared understanding in assessing a project’s risks within a team


Description

Using the risk assessment matrix participants get to properly assess the risks associated with a certain project, by taking into consideration two key aspects: the probability of occurrence and impact on the project. The position of a certain risk on this matrix is visually enlightening when it comes to the severity of the risk and the mitigation approaches that need to be further addressed.

Flow

Introduction

  • Introduce the activity to the participants and split them into teams.
  • Each team will name a team coordinator who will facilitate the discussion in the breakout room and then present the outcome to the other teams, based on the ideas written within the predefined template.
  • Provide the activity link to each team.

Work

  • Participants brainstorm and write down on sticky notes the risks associated with a certain project.
  • Then, for the second part of this activity, participants will transfer the notes from the brainstorming wall to the next board and place them in the appropriate cell of the risk matrix. They will do this by estimating the probability of occurrence and impact of a certain risk using the 3-level scale (low, medium, high) and then placing the sticky note on the matrix according to the 2 coordinates, e.g low probability and high impact take you 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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