Choose the best definition of risk matrices from the list below.
A) Risk matrices give a clear picture through the assignment of values to the data.
B) Risk matrices are the estimated probability of a risk occurrence.
C) Risk matrices are the estimation of damage that could be caused if the risk occurs.
D) Risk matrices are an estimation of the loss of goodwill.

Question

Quizplus · Accepted Answer

Risk matrices are tools used to assign values to the likelihood and impact of risks, providing a clear visual representation of where risks fall in terms of their severity and probability. This helps in prioritizing risks for management and mitigation.

Choose the Best Definition of Risk Matrices from the List