Risk Likelihood and Impact Scoring: How to Build and Use a Risk Matrix
Learn how to assess risk likelihood and impact, build a 5×5 risk matrix, justify risk scores and understand the limitations of qualitative scoring through practical examples.
Bridge the gap between knowing GRC and doing GRC. Clear explanations, practical guides and resources to help you take the next step.
A practical approach to learning GRC.
Get clear on the ideas behind the task. Start with the why, then build from there.
See the inputs, decisions and steps involved in getting the work done.
Connect the dots with fictional examples of what a deliverable can look like.
Use a resource as a starting point, with its assumptions and limitations in view.
Learn how to assess risk likelihood and impact, build a 5×5 risk matrix, justify risk scores and understand the limitations of qualitative scoring through practical examples.
Learn how to conduct a risk assessment from start to finish, including risk identification, scoring, control evaluation, residual risk, appetite and treatment planning, using a realistic fintech case study.
Learn how to write clear, actionable risk statements using the Cause–Event–Impact method, with practical cybersecurity, operational and third-party risk examples.
Understand inherent and residual risk, how controls influence risk exposure, and how to perform evidence-based assessments using realistic GRC examples.
Learn how to use the free GRC Workshop ERM Toolkit with this step-by-step guide. Discover how to document risks, assess inherent and residual risk, evaluate controls, monitor risk appetite, track treatment actions, and interpret dashboards using a realistic, fictional business scenario.
Download a free Excel-based ERM Toolkit designed to support risk assessments, documentation, and monitoring. Suitable for beginners and experienced practitioners looking to develop practical risk management skills or strengthen their existing processes.
GRC work involves judgement, context and people. This workshop makes the fundamentals easier to understand, with clear guidance and examples you can learn from.
About the workshop