Description
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| Probability and Impact Matrix |
It a tabular presentation of the probability of occurrence of the opportunities and threats against the impacts they may cause (both positive and negative) on the cost, time, and scope.
The probability of occurrence and the impact can be presented as Very High, High, Medium, Low, Very Low, or their equivalent numerical values. The multiplication of the Probability and Impact) gives a numerical value that is used to prioritize/rank the risks and opportunities.
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| Probability and Impact Matrix – Opportunity |
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This technique is used in Risk Management during the Planning phase of the project.
It belongs to the tool category – Data Representation
Where it is Used
Process Groups
This tool is used in the following Process Group(s) during the project management
Planning
Knowledge Areas
This tool is used in the following Knowledge Areas during the project management
Project Risk Mgmt.
Activities
This technique is used while performing the following project management activities by the project manager and the team
Perform Qualitative Risk Analysis
Process Group | Knowledge Area | Activity |
Planning | Project Risk Mgmt. | Perform Qualitative Risk Analysis |
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