Risk Assessment Matrix
A risk assessment matrix is a visual tool used to evaluate and prioritize risks by plotting them based on their likelihood of occurrence and potential impact. It typically uses a grid format with axes for probability and severity, categorizing risks into levels such as low, medium, high, or critical. This methodology helps organizations systematically identify, analyze, and manage risks in projects, operations, or security contexts.
Developers should learn and use risk assessment matrices when planning software projects, managing cybersecurity threats, or ensuring compliance with safety standards, as they provide a structured way to allocate resources and mitigate high-priority risks. It is particularly useful in agile development, DevOps practices, and incident response to prevent failures and improve decision-making.