Definition A list of identified risks with their likelihood, impact, owner and planned actions.
Example A risk with likelihood 3 and impact 4, on 1 to 5 scales, has a risk score of 12.
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Why it matters It keeps risks visible, owned and managed.
Where it is used Project plans, board risk reports and audit reviews.
How to calculate it Risk score = likelihood score × impact score
Worked example A risk with likelihood 3 and impact 4, on 1 to 5 scales, has a risk score of 12.
