A risk map is a visual tool that helps to communicate risk to management by showing the likelihood and impact of different risks on a matrix1. A risk map can help to:
Identify the most critical risks that need immediate attention or action
Compare and prioritize risks based on their severity and probability
Align risk management strategies with the organization’s risk appetite and tolerance
Communicate risk information in a clear and concise way that is easy to understand and interpret2
References = Risk and Information Systems Control Study Manual, Chapter 5: Risk Assessment Process3
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