A probability and impact matrix is a grid that maps the probability of each project risk occurring against the potential impact of that risk on project objectives. It rates both threats and opportunities on probability and impact using descriptive terms or numeric values. Multiplying the probability and impact scores gives an overall risk score, allowing risks to be prioritized so the project team can focus on high-probability, high-impact risks first.

1. Project Management
Key Concepts

2. Probability and Impact Matrix

3. What is it?
A probability and impact matrix is a grid for mapping
the probability of each risk occurrence and its impact
on project objectives if that risk occurs.
By giving a rating, it allows project risks to be allocated
into priority groups.
Probability and Impact Matrix

4. • Both Opportunities and Threats are rated.
• Descriptive terms (such as very high, high, medium, low,
and very low) or numeric values can be used for
probability and impact.
• If numbers are used, these can be multiplied to give a
probability-impact score for each risk.
• By giving a rating, it allows project risks to be prioritised
properly.
Probability and Impact Matrix

5. Probability and Impact Matrix