Risk & Change
Risk Matrix
MyPMP
QMS Template
| Item / criterion | Option A | Option B | Option C | Score / winner |
|---|---|---|---|---|
βοΈ
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β οΈ Risk & Change
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About the Risk Matrix template
A Risk Matrix is a grid that plots each identified risk by its probability against its impact, producing a colour-coded score that ranks threats from low to critical. It turns a long risk register into a visual priority map so teams can focus mitigation effort where exposure is highest.
It's part of My QMS, MyPMP's Quality Management System: fill it in online, personalize it with your name and logo, then export a clean, branded PDF. Your work auto-saves in your browser.
When to use a Risk Matrix
- βΈDuring project initiation to assess and prioritise risks in the register
- βΈWhen preparing a risk review for a steering committee or sponsor
- βΈAfter a change request or scope shift that alters your exposure
- βΈRecurring risk workshops to re-score risks as likelihood or impact moves
What a good Risk Matrix includes
- βRisk ID and clear description of the threat or opportunity
- βProbability rating on a defined scale (e.g. 1-5 or Low/Med/High)
- βImpact rating across cost, schedule, quality or safety
- βCalculated risk score or severity band with colour zones
- βRisk owner responsible for monitoring and response
- βResponse strategy (avoid, mitigate, transfer, accept) and residual score
What's inside this template
The interactive form above gives you:
A table of Item / criterion, Option A, Option B, Option C, Score / winnerNotes / legend
Tips & common mistakes
- π‘Define your probability and impact scales before scoring so ratings are consistent across the team
- π‘Avoid clustering everything in the middle band; use anchored descriptions to force honest ratings
- π‘Re-plot residual risk after mitigation, not just the inherent score, to show real exposure
How it works
- 1. Fill it in β type directly into the fields, tables and sections above.
- 2. Brand it β add your organization name and logo with the Branding button.
- 3. Export β print to PDF, or become a member to white-label and sync across devices.
FAQ
How do you calculate a risk score in a matrix?οΌ
Multiply the probability rating by the impact rating (for example 4 x 3 = 12); the product places the risk in a severity band, usually green, amber or red.
What size matrix should I use, 3x3 or 5x5?οΌ
A 3x3 grid is quick for small or early-stage projects, while a 5x5 gives finer granularity and better differentiates high-priority risks on larger or regulated work.
What is the difference between inherent and residual risk on the matrix?οΌ
Inherent risk is the score before any controls are applied; residual risk is the re-plotted score after your mitigation actions, showing the exposure you actually carry.
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