Risky business: the risk matrix

In my previous two posts, I explored better ways of capturing your key assets, threats, and vulnerabilities. Now, we will take these ingredients and plot them on a risk matrix.
First, download Lootok’s risk matrix.

The risk matrix provides a way to think about the probability and consequences of risks. Typically, risk is measured using two variables: impact and probability, which make up the axes of matrix.
Both of these variables should be specifically defined before using the risk matrix to plot your risks. The first variable, impact, is a measure of how harmed or disrupted your business would be if the risk occurred. Impacts can occur across different areas, such as finance, regulation, or reputation. Within each impact area, a risk can cause a low or high impact.