Which term describes a graphic tool for ranking and displaying risk by defined ranges for frequency and magnitude?

• A. Risk owner
• B. Risk assessment
• C. Risk analysis
• D. Risk map

Answer: (D)

Visual representation of risk by likelihood and impact is what this is getting at. A risk map is a graphical tool that ranks and displays risk using defined ranges for how often something could occur (frequency) and how severe the consequence would be (magnitude). It’s typically laid out as a grid with color coding, so you can instantly see which risks sit in the high-risk area and should be prioritized for mitigation. This differs from risk assessment, which is the broader process of identifying and evaluating risks, and from risk analysis, which focuses more on quantifying or qualifying risk values. A risk owner, meanwhile, is the person responsible for a given risk.