Risk control matrix and how did we do risk rating

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Risk control matrix is a tool used to identify, assess, and prioritize risks. Risk rating is done based on the likelihood and impact of the risk.

Risk control matrix is a document that lists all the potential risks and the controls in place to mitigate them.
The risks are rated based on their likelihood and impact on the organization.
Likelihood and impact are usually rated on a scale of 1-5, with 1 being the lowest and 5 being the highest.
The risk rating is then calculated by multiplying the likelihood and impact ratings.
The risks with the highest ratings are given the highest priority for mitigation.
Regular review and update of the risk control matrix is necessary to ensure its effectiveness.

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