A Probability Impact Grid evaluates each identified risk according to two primary dimensions: its probability of occurrence and its potential impact on project objectives. SBOK explains that each dimension may be assigned a numerical or categorical rating and that probability and impact can then be combined to derive a risk-severity score.

That makes the technique particularly appropriate for the flood-and-landslide scenario. The team can estimate how likely these events are and assess the severity of their consequences for safety, cost, schedule, infrastructure, or environmental objectives. The resulting score helps determine prioritization and the urgency of mitigation.

Probability Trees model multiple possible outcomes as branches and calculate associated expected values. Pareto Analysis ranks identified risks by magnitude to focus attention on the most significant contributors. Expected Monetary Value converts uncertainty into a financial expectation by multiplying monetary impact by probability.

All four can support risk analysis, but the question specifically emphasizes evaluating probability and impact on project objectives, which directly matches the Probability Impact Grid.

Study Guide reference: Risk - > Risk Assessment - > Probability Impact Grid.

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