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Risk matrix
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<p>A risk matrix is a <a href="/facts/Matrix_(mathematics)/qa8FI4ko">matrix</a> that is used during <a href="/facts/Risk_assessment/vlG9Uf0h">risk assessment</a> to define the <a href="/facts/Level_of_risk/HCFHKIwo">level of risk</a> by considering the category of likelihood (often confused with one of its possible quantitative metrics, i.e. the <a href="/facts/Probability/fgYvMhwb">probability</a>) against the category of consequence severity. This is a simple mechanism to increase visibility of risks and assist management decision making. </p>