A risk matrix is a two-dimensional picture of risk for organizations, products, projects, or other items of interest. It is a tool used during risk assessment to define the level of risk by considering the category of probability or likelihood against the category of consequence severity. Therefore, the correct answer is;
C. A two-dimensional picture of risk for organizations, products, projects, or other items of interest.
A risk matrix typically visualizes risk by plotting two factors, usually the likelihood of an event occurring and the potential impact or consequence of that event.
According to the CISSP Official Study Guide (9th Edition), the risk matrix is a tool to map probability and impact for criticality prioritization. It is just a tool and is not specific to any particular project or product. Therefore, option C is incorrect.
From the CISSP Official Study Guide pg 77 - "A risk matrix or risk heat map is a form of risk assessment that is performed on a basic graph or chart. It is sometimes labeled as a qualitative risk assessment. The simplest form of a risk matrix is a 3x3 grid comparing probability and damage potential."
A risk matrix is a two-dimensional chart that represents a visual representation of the risks associated with a specific activity, system, project, or organization. It typically includes two axes, one measuring the likelihood of a risk occurring and the other measuring the potential impact if it does occur. The resulting chart can be used to identify and prioritize risks based on their likelihood and impact. The risks are assigned to cells within the matrix, with each cell representing a particular level of risk. Typically, it will use different colors, shapes, or labels to indicate a specific level of risk which allows a quick visualization of the risks and their levels.
A. A tool for determining risk management decisions for an activity or system. D. A table of risk management factors for management to consider. Both are related to risk management process, but not a specific tool.
A risk matrix is a matrix that is used during risk assessment to define the level of risk by considering the category of probability or likelihood against the category of consequence severity. This is a simple mechanism to increase visibility of risks and assist management decision making.
https://en.wikipedia.org/wiki/Risk_matrix
It is possibly A
https://www.wrike.com/blog/what-is-risk-matrix/#What-is-a-risk-assessment-matrix-in-project-management
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