risk map

A risk map is a data visualization tool for communicating specific risks an organization faces.

A risk map is a data visualization tool for communicating specific risks an organization faces.

The goal of a risk map is to improve an organization's understanding of its risk profile and appetite, clarify thinking on the nature and impact of risks, and improve the organization's risk assessment model. In the enterprise, a risk map is often presented as a matrix. For example, the likelihood a risk will occur may be plotted on the X-axis while the impact of the same risk is plotted on the Y-axis.

If the organization is dispersed geographically and certain risks are associated with certain geographical areas, risks might be illustrated with a heat map, using color to illustrate the levels of risk individual branch offices are exposed to. 

 

This was first published in November 2013

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