What is a risk-control matrix?
The purpose of a risk-control matrix is to clearly present:
- The risks inherent in a process.
- The control measures implemented to mitigate the risks to an acceptable level.
This allows you to systematically document how you manage risks in your processes. Additionally, by regularly testing, you ensure that what has been set up is actually functioning as expected.
Risks are weighted by assessing the likelihood of their occurrence and the potential (financial) impact they could have on your organization.
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