An artifact that displays the location of each risk on a Probability/Impact diagram based on its probability and overall impact is called:

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Question restatement: An artifact that displays the location of each risk on a Probability/Impact diagram based on its probability and overall impact is called:

Answer options:
- Risk severity
- Risk matrix
- Risk map
- Risk metric

Option 1: 'Risk severity' — This term is not the standard label for a tool that plots risks on a probability vs. impact grid. 'Severity' might describe the level of risk, but it does not imply a diagram or placement of risks on a chart. It could be used informally to describe outcomes, but it does not specify a two-dimensional plotting artifact. Thus this choice misidentifies the visual representation in question.

Option 2: 'Risk matrix' — This is the conventional name for a two-dimensional grid that maps each risk according to its probability of occurrence (horizontal axis, for example) and its impact or consequence (vertical axis). Each risk appears as a point or cell within the matrix, showing where it lies on the Probability/Impact combination. This aligns directly with the described artifact. The term 'risk matrix' is widely used in project management and risk management frameworks to visualize and prioritize risks.

Option 3: 'Risk map' — A risk map can refer to a graphical representation of risks, sometimes showing geography, categories, or other dimensions. While a map can convey locations and categories of risks, the phrase 'Probability/Impact diagram' specifies a two- dimensional grid. A risk map is a broader or different concept and may not necessarily refer to the standard probability–impact matrix used for prioritizing risks in the described way. Therefore, it is not the most accurate label for this particular artifact.

Option 4: 'Risk metric' — A metric generally denotes a quantitative measure (such as a score, rate, or index) used to assess risk, but it does not inherently describe a visual artifact that places risks on a Probability/Impact diagram. This term focuses on measurement rather than the two-dimensional plotting structure itself. Hence this choice does not match the described artifact.

In summary, among the options provided, the term that best fits an artifact displaying each risk on a Probability/Impact diagram by probability and impact is the 'risk matrix', while the other terms either refer to different concepts or do not capture the specific plotting tool described.

PJM6015.20760.202525 PJM6015_Week 5_Test Your Knowledge (TYK)

An artifact that displays the location of each risk on a Probability/Impact diagram based on its probability and overall impact is called:

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