A Risk Based Matrix is a tool that can be used to make risk assessments. It helps determine the level of acceptable risks for an organization, and it typically involves looking at three different factors: Threats, Vulnerabilities, and Consequences. Risk assessments are important because they help organizations plan ahead for potential safety or security incidents. In this article, we will discuss 3 main points about Risk Based Matrices.
1) They are helpful in determining what levels of acceptable risks an organization has based on threats, vulnerabilities, and consequences.
2) They provide a framework with which to identify critical assets.
3) It is done by evaluating the likelihood of each incident as well as its impact.
In conclusion, they are an important part of risk management. They help identify areas that may be at higher risk for incidents and allow for better planning to mitigate those risks. By understanding the three points mentioned above, readers can get a general idea of how Risk Based Matrices function and their benefits.