The Probability and Impact Matrix is a risk management tool used to evaluate and prioritize risks by assessing their likelihood of occurrence and potential impact on project objectives. It helps decision-makers allocate resources efficiently by focusing on high-probability, high-impact risks that require immediate attention.

Probability And Impact Matrix

Probability and Impact Matrix

risk management tool

evaluate and prioritize risks

likelihood of occurrence

potential impact

Project objectives are specific, measurable goals that guide the planning and execution of a project, ensuring all stakeholders have a clear understanding of what the project aims to achieve. They serve as critical benchmarks for evaluating the project's success and are essential for aligning team efforts and resources effectively.

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